Small Business Deal Advisors (“SBDA”) is pleased to announce the sale of the Caledonia, MI-based Fortune Chef to an individual investor.
Founded in 1996, Fortune Chef is Chinese and American restaurant located in Caledonia Village Centre, a popular strip mall in Caledonia, MI. At its core, Fortune Chef’s goal is to cater to the diverse food tastes of its customer base, offering numerous breakfast, lunch, and dinner options. The Restaurant aims to maintain high quality and fresh food offerings.
Simon Kung, the founder of Fortune, decided to sell the business in order to retire. Regarding the sale, Mr. Kung noted, “Running Fortune Chef has been a truly rewarding experience. While I will miss running the restaurant, I am excited to enter retirement and expect Randy Bryant will continue to serve customers well.”
The buyer of the business, Randy Bryant, is an experienced marketing professional. Mr. Bryant previously held positions with Mitten Media Partners, Tribune Media, LIN Media, and True Value Media, He is excited to manage the business and his goal is to provide a 5-star experience for restaurant guests, team members, and local communities.
Regarding SBDA, Mr. Kung commented, “SBDA provided fantastic representation. They assembled high-quality marketing materials and found many interested buyers. Doug was key in managing the sale through closing. Thank you!”
Doug Yntema, Associate Broker, noted, “We sell a lot of restaurants, and Fortune Chef stands out as a favorite. It is a profitable, well-run business. Simon was fun to work with and took our advice on preparing the business to receive a solid price and terms, and it paid off. It is always rewarding to be involved in helping a seller enter retirement successfully.”
SBDA advised Fortune Chef on the sale through the development of marketing materials, comprehensive marketing of the acquisition opportunity, and consulting through the negotiation, due diligence, and closing periods.
Terms of the transaction were not disclosed.