قالب وردپرس درنا توس
Home / Business / Cracker Barrel doubles cookies with a $ 36 million deal

Cracker Barrel doubles cookies with a $ 36 million deal



The company known for its all-you-can-eat biscuits, tabletop chopsticks and its general store feel adds "comfort food with a modern twist" not to the menu, but to the portfolio.

Cracker Barrel Old Country Store has purchased a popular casual restaurant chain Maple Street Biscuit Company in a $ 36 million cash transaction. Maple Street, known for its creative cookery offerings such as "The Squawking Goat" and "The Five and Dime," was founded in 201

2 in one place. It has now grown to 28 company sites and five franchise locations in seven states.

Cracker Barrell will convert seven of the Holler & Dash biscuits to Maple Street Biscuit Company stores. "The breakfast and lunch-focused fast-casual category is an attractive segment, and our experience with Holler & Dash has reinforced that belief," said Sandra B. Cochran, CEO of Cracker Barrell, in a statement, "We have long admired Maple Street Biscuit Company with an emphasis on food and hospitality made from scratch. ”

Ticker Security Load Change Change%
CBRL CRACKER BARREL OLD COUN. ST.INC [19659012] 158.81 +0.18 + 0.11%

Cochran added that Maple Street "is positioned to be a leader" in the food and hospitality category made from scratch.

While Cracker Barrell has exploded into a $ 3 billion company with more than 645 stores, efforts to grow beyond the core brand have been mixed at best. In 1994, the chain tested a single-concept implementation called Cracker Barrel Old Country Store Corner Market Located in the suburbs residentia In the neighborhoods, it competed against 7-11 stores. But after three years, the company closed these stores. Cracker Barrell has been more successful in "regionalizing" the menu as it expanded beyond the southern roots. It opened Holler & Dash in 2016, a fast-casual concept aimed at millennials specializing in biscuit sandwiches.

GET FOX BUSINESS AT THE TIME BY CLICKING HERE


Source link