Get in on the ground floor of this Hawaiian restaurant chain
AMERICAN FORK, UT: The six-unit Hawaiian chain Mo’Bettahs was acquired last week by Four Foods Group, or FFG, the parent to the Kneaders Bakery & Café chain, which is building a portfolio of brands.
Terms were of the deal, which closed on July 1, were not disclosed, but FFG said on Tuesday that it had acquired a majority stake in Mo’Bettahs, which was founded nearly 10 years ago in Bountiful, Utah.
Mo’Bettahs founders, brothers Kimo and Kalani Mack, will continue to lead the brand and its future expansion strategy, FFG officials said.
“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, or family,” said Andrew Smith, CEO of FFG. “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.”
With the acquisition, FFG has passed the threshold of 100 restaurants, including 44 Kneaders locations, three units of R&R Barbecue, two locations of The Soda Shop, and 48 Little Caesars restaurants in Alabama and Louisiana.
Earlier this year, American Fork, Utah-based FFG said it had secured $33 million in financing, including $22.7 million in acquisition financing from the lender CIT Group Inc., and $10 million from private investors and current shareholders, for the Little Caesars deal.