It was a great product that 80% of consumers had never heard of,” said Roellig. “When we bought it, their mochi ice cream was in less than 1,000 stores. Friedman, who took over the family firm, sold it to California-based private equity firm Century Park Capital Partners in 2015, which closed down the bakery and focused on building the mochi ice cream business.Ĭhip Roellig, managing partner with Century Park Capital Partners, declined to disclose the purchase price. The ice cream was generating “tens of millions” in annual revenue by the time Hashimoto passed away in 2012. How he got 200,000 people to buy ugly fruits and vegetables “We are reaching the masses where they shop.”
“We are in Target, Kroger, Walmart and everything in between,” said Barnett. My/Mo Mochi is now available in 20,000 stores nationwide.
BUBBIES MOCHI ICE CREAM PORTABLE
They’re also sold individually in portable freezers that Barnett calls self-serve “ice cream bars.”
BUBBIES MOCHI ICE CREAM FREE
My/Mo Mochi ice cream (which is gluten free and some varieties are dairy free) is produced at a manufacturing facility in Los Angeles and sold in packages of six. The My/Mo Mochi brand launched in 2017, two years after Barnett joined the company after leaving his job as CMO of bottled water company JUST Goods. “We just retooled and adjusted it for today’s consumers,” he said. My/Mo Mochiīarnett recognized the inherent appeal of mochi ice cream to Millennials, a group he calls “a snacking generation.” Mochi is a portion-control snack of about 110 calories per ball, easy to hold and eat on the go. ”Bubbies’ products and reputation are an ideal foundation as we position ourselves for growth,” Schaffer said in a statement.Mochi ice cream, a ball of creamy ice cream encased in pillowly rice dough, has gone from niche to mainstream with American consumers. Rick Schaffer, who served most recently as vice president of retail sales at Grecian Delight, will become Bubbies’ new chief executive officer. Kenex has a proven strategy of working with family-owned companies to navigate leadership transition.” “We are excited to acquire Bubbies and invest in the next phase of its growth. “Keith has built a phenomenal company and brand that possesses a product that is second-to-none in the market,” Nick Kuneman, Kenex partner said in a statement. A franchise operator also runs a Bubbies in the Koko Marina Shopping Center. This latest announcement follows the October 2015 closure of the Bubbies retail store in McCully, which reopened in February as an Island Scoops, which purchases ice cream and mochi ice cream from Robbins.
In recent years, Robbins has been concentrating on wholesale. Robbins grew Bubbies from a Hawaii-based mom and pop to an international distributor serving the United States, France, Mexico, Norway, Russia, Saudi Arabia, Sweden, Switzerland, and the United Arab Emirates.
I am thankful that Kenex shares my passion for the product and vision for Bubbies so that the company can perpetuate its vision and goals.” “I believe this transaction will benefit our staff and our customers - a paramount goal of mine as I begin to transition into retirement. “Kenex is the perfect fit with Bubbies’ culture, and this partnership will allow Bubbies to continue to grow and spread joy and peace through mochi,” Robbins said Wednesday in a statement. Bubbie” title, serving as the company’s face at industry trade shows. Kenex Holdings, a Chicago-based investment company, has acquired Aiea-based Bubbies Homemade Ice Cream & Deserts Inc., which is best known for its line of mochi ice cream.īubbies was founded in 1985 by Keith Robbins, who will continue investing heavily in the company and will keep his “Mr.
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