BBQ Holdings, Inc. Announces Acquisition of 18 Granite City Food & Brewery Restaurants
March 11 2020 - 08:16AM
BBQ Holdings, Inc., a company known for its BBQ restaurants
including Famous Dave’s, Clark Crew BBQ and Real Famous BBQ has
officially acquired Granite City Food & Brewery. The
acquisition took place on March 10, 2020 and has immediately gone
into effect for the 18 restaurants in Minnesota, Iowa, Illinois,
Nebraska, Montana, Tennessee, Indiana, Michigan, South Dakota and
North Dakota.
Founded in 1999 as a single store restaurant in St. Cloud,
Minnesota, the brand has built a strong reputation in the Midwest
for its award-winning craft beer and made-from-scratch craft food.
The brand’s chef driven menu is designed to introduce guests to
innovative new cuisine choices and flavor profiles. The
Minnesota-based restaurant brand has separated itself from
competition in the segment through craft beer expertise, on-site
brewing and customer experience.
“As an originator of the craft beer trend, with a strong and
consistent product across all of its locations, Granite City Food
& Brewery is a fantastic addition to the BBQ Holdings
portfolio,” said Jeff Crivello, Chief Executive Officer of BBQ
Holdings. “We intend to leverage and utilize much of our
infrastructure in an effort to absorb this iconic brand to ensure
an accretive transaction. Expected cash EBIDA accretion for 2020 is
$2,250.000, based on approximately 9 months of operation under BBQ
Holdings.”
BBQ Holdings, Inc., has plans to bring back the founder of
Granite City, Steve Wagenheim, in an effort to operate the stores
with a guest-first attitude. During his 14 years with Granite City,
and inclusive of over 50 restaurant openings with Granite City and
other brands, Wagenheim’s vision has always been to create an
exceptional guest experience by delivering outstanding hospitality
and distinctive value to all guests.
ABOUT BBQ HOLDINGS INC.:BBQ
Holdings, Inc. (NASDAQ: BBQ) BBQ Holdings is a national restaurant
company engaged in the ownership and operation of casual and fast
dining restaurants. As of March 9, 2020 BBQ Holdings has four
brands with 144 overall locations in 33 states and three countries,
including 50 company-owned and 94 franchise-operated restaurants.
While BBQ Holdings continues to diversify its ownership in the
restaurant community, it was founded with the principle of
combining the “art and science” of barbecue to serve up the very
best of the best to barbecue lovers everywhere. BBQ Holdings,
through partnerships, has extended Travis Clark’s award winning
line of barbecue sauces, rubs and seasonings into the retail
market. Along with a wide variety of BBQ favorites served at their
BBQ restaurants, BBQ Holdings newest addition, Granite City Food
and Brewery, offers award winning craft beer and a
made-from-scratch, chef driven menu featuring contemporary American
cuisine.
MEDIA CONTACT:Jennifer HochNo
Limit Agency312-526-3996jennifer@nolimitagency.com
A PowerPoint accompanying this announcement is
available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/f7afc5cf-ccea-4735-847d-38b5a409c4cc
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