Sadot Group has sold Superfit Foods, marking its first step of exiting the restaurant sector.
Superfit Foods is a subscription-based meal prep concept based in Orange Park, Florida, serving the Jacksonville market.
The sale forms part of Sadot Group’s plan to focus on its agri-commodity origination, trading, shipping, and farming businesses.
“This transaction is the first of three restaurant concepts to be sold from our portfolio and is the first step in our plan to exit the restaurant business,” said Michael Roper, Sadot Group CEO.
“We expect that the divestment of these non-core assets will drive operational savings and simplification along with ensuring our resources are firmly aligned around the highest potential opportunities.”
As part of its plan, Sadot has re-franchised its final company-owned eatery, Muscle Maker Grill in New York’s Bronx district. The move lowers corporate G&A expenses and generates royalties for the restaurant division.
As a fully franchised concept, Muscle Maker Grill is expected to potentially attract a broader base of interested parties.
Sadot Group said it continues to work on the divestiture of Muscle Maker Grill along with its 39-unit Pokemoto chain.