AMERICAN FORK, Utah--(BUSINESS WIRE)--Four Foods Group (FFG), a rapidly growing restaurant development, investment, and management company, has acquired a majority stake of Mo’Bettahs, a six-unit Hawaiian-style restaurant chain. The all-cash acquisition closed on July 1, 2017.
Mo’Bettahs was founded in Bountiful, Utah, nearly a decade ago by Kimo and Kalani Mack. The popular eateries have achieved steady growth with authentic Hawaiian-style food and cultural offerings. The Macks, who deliver the sights, sounds, tastes, and smells of their Hawaiian homeland, will continue to lead Mo’Bettahs and their future expansion strategy.
“I am honored to enter this new partnership with people who share our business values and who care about their employees and treat them as ohana (family),” said Andrew K. Smith, Chief Executive Officer of Four Foods Group. “As FFG continues to expand our concepts throughout the United States, we look to partner with quality people. Kimo and Kalani are talented leaders who have built a strong organization by serving customers the unique Hawaiian experience they know so well.”
Smith was impressed with how the Mack brothers work to foster the vision of a bright future for the Mo’Bettahs family of employees. The Macks are known for creating an atmosphere in each store so patrons feel as if they have stepped off a plane in Oahu, Hawaii, and walked into their home.
“This is a lifestyle we want to share with all our customers; it is a place where they are comfortable and at peace. Loyalty is most important to us,” said Co-Founder Kimo Mack. “We strive for actions with pono, which means striving to do what is right in all we do. Our partnership with FFG will help us spread our Hawaiian lifestyle and culture to many more people.”
“We cannot wait for what Four Foods Group has in store for us. Everyone has been so kind while also getting down to business and offering what we need. I am excited to work with the caliber of talent that exists at FFG,” said Co-Founder Kalani Mack.
Four Foods Group has a proven track record of implementing their innovative partnership model to ensure growth in all aspects of the company and its partnering businesses. This acquisition is an important milestone, allowing Four Foods Group to cross the threshold of 100 restaurants across the U.S. The company now has 105 total restaurants under management and is growing two to five new units a month across their portfolio of brands. Four Foods Group has been on an explosive growth run over the past five years and is now expected to generate more than $160 million in annual revenues. CEO Andrew K. Smith was recently recognized as an Ernst and Young Entrepreneur of the Year for the company’s efforts.
Crewe Capital, an independent investment banking, securities, and mergers and acquisitions firm, acted as the exclusive financial advisor to Mo’Bettahs in the transaction. More information about Crewe Capital, LLC, Member FINRA/SIPC can be found at www.crewecapital.com.
“Kimo and Kalani Mack have accomplished one of the most difficult things to do in the restaurant business: they created and launched a brand and have grown it from one to six stores. That is incredibly hard and rare in this business. We are excited to extend this effort and expect to add 50 to 75 Mo’Bettahs units across the United States in the next three to five years,” Smith continued.
About Four Foods Group
Four Foods Group (FFG) is a restaurant investment, development, operations and management company with 105 restaurant locations with two to five additional sites in development or under construction every month. FFG has ranked among Inc. Magazine’s 500/5000 Fastest Growing Companies in America for five consecutive years, a Mountain West Capital Network (MWCN) 100 recipient for four years running, and as a Utah Valley (UV) 50 company for six years running. The company currently employs more than 3,200 employees, with more than 145 at their corporate offices in American Fork, Utah and Birmingham, Alabama. Their restaurants rank among the Technomic Top 150 Fast Casual Restaurants.