- people on the move
Owner sells restaurant to investor
The owner of a Chinese and American restaurant in the area has retired and sold his business.
Simon Kung, founder of Fortune Chef in Caledonia, at 9353 Cherry Valley Ave. SE, sold the restaurant to Randy Bryant, according to Grand Rapids-based Small Business Deal Advisors, or SBDA, yesterday.
Terms of the transaction were not disclosed.
“Running Fortune Chef has been a truly rewarding experience,” Kung said. “While I will miss running the restaurant, I am excited to enter retirement and expect Randy Bryant will continue to serve customers well.”
Founded in 1996, Fortune Chef has 22 employees and is located in the Caledonia Village Centre shopping center.
It aims to serve the “diverse food tastes” of customers, offering numerous breakfast, lunch and dinner options. The restaurant says it is dedicated to maintaining “high-quality and fresh food offerings.”
Bryant’s background is in marketing. He previously held positions with Caledonia-based Mitten Media Partners, Tribune Media, LIN Media and True Value Media.
He said he's “excited to manage the business,” and his goal is to “provide a five-star experience for restaurant guests, team members and local communities.”
Bryant intends to keep the restaurant’s name and branding the same at this time, SBDA said.
SBDA advised Fortune Chef on the transaction, providing M&A marketing materials and consulting on negotiation, due diligence and closing periods.
Doug Yntema, associate broker at SBDA, led the deal.