Franchising
Blue Marlin Partners, Trive Capital take majority ownership of Mo’ Bettahs
October 22, 2024
Mo' Bettahs Hawaiian Style Food has sold a majority stake to Blue Marlin Partners and Trive Capital. Savory Fund, Mo' Bettahs' founders and Crewe Capital will retain significant minority stakes.
"We are grateful for the trust Mo' Bettahs put in us to help form the partnership with Savory Fund, allowing us to invest alongside them both then and again now with Blue Marlin Partners and Trive Capital," Mike Bennett, managing partner of Crewe Capital, said in a company press release. 'It's going to be exciting to watch this next stage of growth for Mo' Bettahs."
Founded by Hawaii-born brothers Kimo and Kalani Mack, Mo' Bettahs began in 2008 in Bountiful, Utah. In 2017, Crewe Capital advised Mo' Bettahs on the sale to Savory Fund, a private equity firm that invests in emerging restaurant concepts.
"Mo' Bettahs is — and always will be — one of my favorite investments we've ever made because of the people," Andrew K. Smith, managing director of Savory Fund, said in the release. "We love the culture that Kimo and Kalani Mack created 16 years ago, we love the food that they share as if you are in their own backyard in Hawaii, and we couldn't be prouder of the partnership we've formed. Over the past seven years, they've become like brothers to us all, and we're excited to welcome Blue Marlin Partners into the Mo' Bettahs ohana."
Rob Ertmann, CEO of Mo' Bettahs, who joined the brand in 2021, when it had 22 units, has seen it double in size.
"Thanks to good partners like Savory, the heart of the brand has always remained the same," he said in the release. "I'm confident Blue Marlin will only add to that synergy, and our team can't wait to get started on bringing authentic Hawaiian cuisine to more neighborhoods, friends and families."
Over the last three years, Mo' Bettahs has grown its revenue 178%, and its loyalty/subscriber base has nearly 500,000 members.
