In an all-cash transaction valued at $36 million, Cracker Barrel has acquired Maple Street Biscuit Company, which has 28 company-owned and 5 franchised restaurant locations across 7 states.
Maple Street Biscuit Company was founded in 2012 by Scott Moore and Gus Evans. Moore will remain CEO of Maple Street Biscuit Company. As part of the deal, Cracker Barrel plans to convert its seven Holler & Dash Biscuit House units into Maple Street Biscuit Company locations.
“The breakfast and lunch-focused fast-casual category is an attractive segment, and our experience with Holler & Dash has reinforced this belief. We have long admired Maple Street Biscuit Company with its emphasis on made-from-scratch food and hospitality. It is a proven brand with attractive unit economics and strong growth potential, and it is positioned to become a leader in this category. The acquisition accelerates our penetration in this segment and provides growth for delivering shareholder value. I look forward to working with Scott and his team as we further grow this brand together,” said Sandy Cochran, Cracker Barrel president and CEO.