American Fork-based Four Foods Group, a restaurant development, investment and management firm, has acquired a majority stake in Mo’Bettahs, a six-unit Hawaiian-style restaurant chain. The all-cash acquisition closed on July 1.
Mo’Bettahs was founded in Bountiful 10 years ago by Kimo and Kalani Mack. The popular eateries have achieved steady growth with authentic Hawaiian-style food and cultural offerings. The Macks 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, CEO of Four Foods. “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.”
“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 company now has 105 total restaurants under management and is growing two to five new units a month across its portfolio of brands including Little Caesar’s Pizza, R & R Barbeque and Kneaders Bakery & Cafe. The company expects to generate more than $160 million in revenues this year.
“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 said.