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MTY to buy BBQ Brands

In a deal valued at $200 million, multiconcept operator MTY Food Group will acquire BBQ Holdings, the parent company of Famous Dave’s and several other restaurant chains.

BBQ Holdings operates over 200 franchised and over 100 corporate-owned restaurants. Other concepts in its portfolio include Village Inn, Barrio Queen and Granite City. MTY has 6,660 locations in operation, 99% of which are franchised, per a company release. MTY Brands established its presence in the U.S. with the acquisition of Kahala Brands in July 2016.

The deal remains subject to various closing conditions and regulatory approvals. This deal is expected to close by the fourth quarter of 2022, per a company release.