JACKSONVILLE, Fla. — A local breakfast chain is going to be expanding, thanks to the backing of a major national chain.
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Maple Street Biscuit Company was acquired by Cracker Barrel for $36 million in "an all-cash transaction," according to a release from Cracker Barrel.
Maple Street was founded by Scott Moore and Gus Evans in 2012 and has 28 company-owned locations and five franchised locations in seven states.
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Cracker Barrel said it will convert its Holler & Dash Biscuit House units into Maple Street Biscuit Company locations in the coming months. Moore will remain the CEO of Maple Street Biscuit Company and report to Cracker Barrel President and CEO Sandra Cochran.
Cochran released the following statement:
"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."
Moore released the following statement on the acquisition:
"From the beginning, Maple Street Biscuit Company has focused on serving its communities through comfort food with a modern twist and gracious service. Our brands share many similarities such as scratch cooking and an emphasis on hospitality. I'm excited about this opportunity, and I believe Cracker Barrel will help us grow our brand and further achieve our mission of helping people, serving others, and being a part of the community."
Cox Media Group
