(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. Thus far, Joseph Duncan, who is leading the Five Forks store has provided food to a local elementary school as well as gift cards for a church fundraiser.LEBANON, Tenn., Oct. But every store finds its own path to community betterment. Namely that sense of commitment and passion comes through in service and consistency of product, Burden says. “That’s a pretty widely accepted concept and what sets us apart I think is our drive to actually be able to live that out. “Our mission is to help people, to serve others and to be part of the community,” Burden says. They are: comfort food with a modern twist, gracious service, immaculately clean stores and sustainable business. The company is also known for its adherence to its core principles, says Michael Burden, who will lead the downtown Greenville store. Maple Street is a Jacksonville, Florida-based concept that uses the biscuit as a jumping off point to create what the company calls “comfort food with a modern twist.” The menu includes a bevy of biscuit sandwiches, Southern-inspired sides and entrée salads, along with some creative dishes like a sweet and savory vanilla bean waffle with Asiago cheese and bacon and spin on the Middle Eastern dish, shakshuka. The downtown restaurant, slated to open in November, will be located in the former Dixie’s Tavern space at 18 East North St. Maple Street opened a restaurant at 2815 Woodruff Road in Five Forks in September. Barely one month after opening one location of its popular breakfast/lunch spot, Maple Street Biscuit Company has announced plans to open a second Upstate location in the heart of downtown Greenville later this year.
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