Savory Fund’s sale of Mo’ Bettahs Hawaiian Style Food to Blue Marlin Partners and Trive Capital was a growth-oriented deal in an unprecedented market. Over the last couple years, on the heels of the Covid pandemic, the restaurant sector has seen a variety of distressed deals and rushed exits.
For the restaurant industry, this deal broke a gridlock for growth-like deals and demonstrated that the market is ripe with highly profitable companies that are disrupting dining patterns across the United States.
Expanding Geographic Footprint
Founded in Utah in 2008 by two Hawaii-born brothers, Kimo and Kalani Mack, Mo’ Bettahs introduced mainlanders to the authentic flavors of Hawaiian BBQ.
After opening six locations in Utah, Mo’ Bettahs was acquired in 2017 by Savory Fund, a private equity firm headquartered in the state that invests in emerging restaurant concepts. Together, they grew the brand to 56 locations across seven states. Savory and Mo’ Bettahs’ founders have kept a minority stake.
The acquisition by PE shops Blue Marlin and Trive Capital, which are headquartered in Bethesda, Md., and Dallas, respectively, is an important milestone in the evolution of the brand. It will support Mo’ Bettahs’ ambitious growth trajectory as it enters new markets. Mo’ Bettahs has been focused on growing its footprint in the Western United States, but this deal paves the way for expansion to the East.
Traditionally, deals of this size result in a new guard coming in and establishing their way of running the business. This deal was less of a changing of the guard and more of a unification between the existing and new ownership groups to provide Mo’ Bettahs with the resources it requires to unlock its massive potential.
