These, and similar statements are forward-looking statements concerning matters that involve risks, uncertainties and other factors which may cause the actual performance of Cracker Barrel Old Country Store, Inc. For more information about the company, visit .Įxcept for specific historical information, certain of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. Established in 1969 in Lebanon, Tenn., Cracker Barrel and its affiliates operate 660 company-owned Cracker Barrel Old Country Store® locations in 45 states and own the fast-casual Maple Street Biscuit Company and Holler and Dash® restaurants. By creating a world filled with hospitality and charm through an experience that combines dining and shopping, guests are cared for like family. (Nasdaq: CBRL) shares warm welcomes and friendly service while offering guests high-quality homestyle food and unique shopping - all at a fair price. The Company anticipates that the impact of the acquisition, excluding any acquisition and integration expenses, will be approximately neutral to earnings per diluted share in fiscal 2020.Ĭracker Barrel Old Country Store, Inc. 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." Our brands share many similarities such as scratch cooking and an emphasis on hospitality. Maple Street Biscuit Company founder and CEO Scott Moore said, "From the beginning, Maple Street Biscuit Company has focused on serving its communities through comfort food with a modern twist and gracious service.
I look forward to working with Scott and his team as we further grow this brand together," said Sandy Cochran. The acquisition accelerates our penetration in this segment and provides growth for delivering shareholder value. It is a proven brand with attractive unit economics and strong growth potential, and it is positioned to become a leader in this category. We have long admired Maple Street Biscuit Company with its emphasis on made-from-scratch food and hospitality. "The breakfast and lunch-focused fast casual category is an attractive segment, and our experience with Holler & Dash has reinforced this belief. Cochran, President and CEO of Cracker Barrel. Scott Moore will remain CEO of Maple Street Biscuit Company and will report directly to Sandra B. The Company plans to convert its Holler & Dash Biscuit House units into Maple Street Biscuit Company locations in the coming months.
Maple Street Biscuit Company has targeted AUVs of $1.0+ million and targeted store-level EBITDA of 17%+ of net sales. It currently has 28 company-owned and five franchised fast casual locations across seven states. Maple Street Biscuit Company was founded by Scott Moore and Gus Evans in Jacksonville, FL in 2012. (" Cracker Barrel" or the "Company") (Nasdaq: CBRL) announced it has acquired Maple Street Biscuit Company in an all-cash transaction for $36 million. 11, 2019 /PRNewswire/ - Cracker Barrel Old Country Store, Inc.
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