Ah, damn, Cracker Barrel whipped out the checkbook and bought Maple Street Biscuit Co. for $36 million.
The Florida-based chain emerged out of San Marco in 2012, serving up comfort food with a modern twist. And by comfort food we mean fresh biscuits with thigh-widening toppings. Menu items include "The Squawking Goat" — comprised of a fried chicken breast, a fried goat cheese medallion and house-made pepper jelly sandwiched with a house-made flaky biscuit — plus loaded waffles, bowls and salads.
The chain currently has 28 locations sprinkled throughout the south and has locations in Alabama, Georgia, Tennessee, Texas as well as the Carolinas. Tampa Bay is home to three locations — Carrollwood, St. Petersburg and Seminole (with two nearby in Sarasota and Bloomingdale).
The St. Pete location is also the former home of long-shuttered 600 Block music venue Local 662.
According to the TBBJ, Cracker Barrel Old Country Store Inc. will transform its own seven Holler & Dash Biscuit House storefronts into Maple Street locations in the coming months.
“We have long admired Maple Street Biscuit Co. 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," Cracker Barrel CEO Sandra Cochran said in the article. "The acquisition accelerates our penetration in this segment and provides growth for delivering shareholder value.”
Does this new purchase mean changes for Maple Street Biscuit Company? We’ll be on stand by to see if Cracker Barrel — which is publicly traded on NASDAQ under the symbol CBRL — creeps in to butter up the biscuit for its investors.
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This article appears in Oct 10-17, 2019.