A New Jersey-based company has acquired the Pokemoto chain, which has several restaurants in the New Haven region.
Muscle Maker Inc., the parent company of Muscle Maker Grill and SuperFit Foods, announced that it has bought all of Pokemoto’s eateries, which includes 13 locations in four states, including Connecticut, Rhode Island, Massachusetts and Georgia.
In Connecticut, it has restaurants in New Haven, Hamden, Fairfield, Norwalk, Stamford and Wallingford. Plans are underway for new locations in Glastonbury, Groton and Manchester.
Financial terms of the deal were not disclosed.
Mike Roper, CEO of Muscle Maker Inc., said the addition of Pokemoto is the company’s largest acquisition to date.
“The Pokemoto acquisition is something we’ve been working on for quite some time, and we’re excited to see the deal cross the finish line,” Roper said in an announcement.
Pokemoto restaurants are known for their Hawaiian-style poke cuisine. Customers can choose from a list of signature bowls or build their own. They can choose a base, protein, toppings and sauces, featuring offerings such as salmon, tuna, shrimp, mango, cashews, seaweed and rice.
Pokemoto has sought to open locations near universities in particular, and is already close to Yale University, Fairfield University, UConn’s Stamford campus, the University of New Haven, Southern Connecticut State University and Quinnipiac University.
Pokemoto had $3.65 million in revenue in 2020. Muscle Maker reported its total revenue in 2020 was at $4.8 million, and it expects the Pokemoto acquisition to boost total revenue to $8.1 million. Muscle Maker indicated it expects cost and operational efficiencies to result from the acquisition.
According to Roper, he anticipates rapid growth and nationwide expansion.
“We believe we can grow this brand into something that people can enjoy in every state in the country,” Roper said.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
