Bethesda, MD – Blue Marlin Partners, a private equity firm specializing in strategic investments, and Trive Capital have jointly announced the acquisition of a majority stake in Mo’ Bettahs Hawaiian Style Food. This partnership marks a significant milestone for the rapidly growing restaurant chain, as it secures investment from experienced firms like Blue Marlin Partners to fuel its continued expansion. The transaction sees Blue Marlin Partners and Trive Capital taking over from Savory Fund, a growth equity firm focused on the restaurant sector, which will retain a minority stake in Mo’ Bettahs. The financial details of the deal have not been disclosed.
Mo’ Bettahs, established in 2008 by Hawaiian brothers Kimo and Kalani Mack, has become renowned for bringing the authentic taste of Hawaiian plate lunches to the mainland United States. Inspired by family recipes from Oahu, the restaurant’s menu features a variety of Hawaiian staples. Guests can enjoy boldly flavored proteins such as teriyaki chicken and steak, kalua pig, pulehu chicken, katsu chicken, and shrimp tempura, all served with classic white rice and macaroni salad. Mo’ Bettahs also offers a selection of traditional Hawaiian sauces, sides, and the popular spam musubi, delivering a genuine island culinary experience.
Savory Fund initially invested in Mo’ Bettahs in 2017 and has been instrumental in scaling the company from 6 to an impressive 55 locations across seven states. Rob Ertmann, Chief Executive Officer of Mo’ Bettahs, expressed enthusiasm about the new partnership, stating, “Savory has been a tremendous partner through this chapter of our growth, and we’re thrilled to have them remain a part of our ohana going forward. We are also excited to welcome Blue Marlin and Trive as new partners as we continue to scale and begin this next phase of our incredible journey.”
Peter Kirsch, Managing Partner at Blue Marlin Partners, emphasized the firm’s investment philosophy and excitement for Mo’ Bettahs’ future. “Blue Marlin has developed an expertise investing in high quality concepts with clear, authentic brand images and an obsessive focus on customer service,” said Kirsch. “We, along with Trive, are thrilled to partner with Kimo, Kalani, Rob and the team to help Mo’ Bettahs continue its fantastic growth. The Company has established itself as one of the most exciting fast casual brands in the market and is a clear leader in the Hawaiian category.” This statement highlights Blue Marlin Partners’ strategic approach to investing in businesses with strong brand identity and customer-centric operations, making Mo’ Bettahs a fitting addition to their portfolio.
Chris Zugaro, Partner at Trive Capital, also commented on the acquisition, praising the founders and the management team. “Rob, Kimo, and Kalani have done an incredible job building and expanding the Mo’ Bettahs brand and delivering an authentic Hawaiian experience to their customers,” Zugaro stated. “We look forward to partnering with the Company to support our next phase of growth.” Trive Capital’s involvement alongside Blue Marlin Partners underscores the collective confidence in Mo’ Bettahs’ potential and the strategic alignment of the investment partnership.
Harrington Park Advisors acted as the exclusive financial advisor to Mo’ Bettahs in this transaction, while Mayer Brown provided legal counsel to Mo’ Bettahs and Savory Fund. On the other side, Berkeley Research Group served as the exclusive financial advisor to Blue Marlin and Trive, with Benesch, Friedlander, Coplan & Aronoff acting as legal advisor to Blue Marlin, and Gibson Dunn serving as legal advisor to Trive.
About Mo’ Bettahs
Originating in Bountiful, Utah in 2008, Mo’ Bettahs was founded by brothers Kimo and Kalani Mack with a vision to share the authentic Hawaiian plate lunch experience with mainland guests, reminiscent of their upbringing in Oahu. Today, Mo’ Bettahs operates 55 locations across Utah, Idaho, Texas, Oklahoma, Kansas, Missouri, and Nevada, continuing to expand its reach and share the aloha spirit through its food. For further details, please visit www.mobettahs.com.
About Blue Marlin Partners
Based in Bethesda, Maryland, Blue Marlin Partners is a distinguished private equity firm that, in collaboration with its strategic partners, has invested over $700 million in 29 platform investments. Blue Marlin Partners distinguishes itself by investing on behalf of a network of high net worth operators, individuals, and single-family offices, all of whom are part owners of Blue Marlin and bring specialized expertise in various industries. Blue Marlin’s investment strategy leverages rigorous diligence and the deep industry knowledge of its investors to drive value creation within its portfolio companies. Further information can be found at https://www.bluemarpartners.com.
About Savory Fund
Savory Fund is a prominent private equity firm with over $750 million in assets under management. Known for its innovative approach, Savory Fund combines financial capital with a robust growth and scaling playbook developed over 16 years in the restaurant industry. Savory partners with high-potential, profitable, emerging restaurant brands, offering not just financial investment but also industry expertise, growth strategies, revenue enhancement, and new location development support. The Savory team actively contributes to all aspects of brand growth and replication through a proven methodology. Savory’s approach emphasizes founder involvement, recognizing the critical role of founders’ unique knowledge in maintaining the brand’s essence and driving future success. Savory Fund’s portfolio includes 11 brands, such as Swig, R&R BBQ, Pincho, Via 313 Pizzeria, Mo’ Bettahs Hawaiian Style Food, and others. For more information, please visit SavoryFund.com.
