Business lessons from the Kings Hawaiian family

WBig things happen today, guys!I’m excited to show you mine forbes magazine A special feature about King’s Hawaiian and the family behind it, the Tyra family.

Led since 1983 by the founder’s son, Mark Tyra, the business is a jewel in the food industry, and the family’s story is one of success and the American dream. My comprehensive profile includes what they have accomplished and where they are headed.

After spending some time with Mark inside his family’s roll factory, where we ate piping hot King’s Hawaiian rolls fresh off the line, we headed back to our headquarters in Torrance, California, to sit and talk. I did. I also interviewed his children and many other long-time employees. We’ll share everything over a 6-page spread.

I don’t want to give too much away, but their background is category-defining, and the business itself is very Coveted by bankers, investors, grocers, competitors, and more. David W. Hasenbalg, head of RBC City National Bank’s food and beverage group, who has worked with the Heike family for 20 years, said he continues to receive requests to purchase King’s Hawaiian.

The Heike couple say they never want to sell it. But if it goes through, it would likely be a huge deal, Hasenberg said. I mean, it’s huge. The multipliers would be extraordinary and the amounts would be enormous. ”

Read the feature for yourself. There are many lessons. One of his is to create a wide moat around the castle. King’s Hawaiian has strong leverage with retailers because its rolls sell faster than their expiration dates, unlike fresh bread from supermarket bakeries, which tend to generate more waste. . When King’s Hawaiian’s sales team meets with grocery store buyers, they can promote something that salespeople rarely can. “King’s Hawaiian is helping grow their business,” said John Linehan, CEO of Irresistible Foods Group, King’s Hawaiian’s parent company.

“I sometimes tell them,” Linehan told me. “‘It’s because of this brand that you earned your bonus his third year in a row. Don’t ask for a drop in price. If that’s all you want to talk about, I’ll give you jet fuel by the time I get here. I just wasted it.”

This is how Kings Hawaiian does business and why the 100% family-owned business is still in its infancy.

For Sunday’s Super Bowl, we’ll be dipping King’s Hawaiian’s latest release, sweet pretzels, into grilled spinach and artichoke dip. Is a slider in your future this weekend?

— Chloe Sorvino, Staff Writer

order my book Fresh Deals: Hidden Corruption, Corporate Greed, and the Fight for the Future of Meatnow available from Simon & Schuster’s Atria Books.

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field notes

I began my reporting journey for Kings Hawaiian Breakfast with Mark Tyra’s son Winston at King’s Hawaiian Bakery & Restaurant We are located in Torrance, California, minutes from our headquarters and original roll factory. I enjoyed scrambled eggs, Portuguese sausage, a plate of fried rice, French his toast from King’s Hawaiian Bread, and iced shaka tea.

I couldn’t resist finishing the meal. A specialty dish of founder Robert Tyra, famous for his chiffon cake.. The paradise cake pictured is one of Heike’s favorites, and it was easy to see why. His three layers of different flavors – guava, passion fruit and lime – surprised me with the cloud-like fluff mixed with the tropical flavors.

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chloe sorvino As a staff writer on Forbes’ Enterprise team, she leads food and agriculture coverage. her book, Fresh Deals: Hidden Corruption, Corporate Greed, and the Fight for the Future of Meat, published by Simon & Schuster’s Atria Books on December 6, 2022. In her nearly nine years of reporting for Forbes, she has explored In-N-Out Burger’s secret test kitchen, drought-stricken farms in California’s Central Valley, and burnt-out state-owned properties logged by timber billionaires. A forest, a 100-year-old slaughterhouse in Omaha, and a chocolate croissant factory inspired by a medieval castle in northern France.