Minnesota Based BBQ Holdings Acquired by Canadian Franchisor

(KNSI) — The parent company of Granite City Food & Brewery and Famous Dave’s is being sold to an investor in Canada.

Montreal-based MTY Food Group has bought Minnetonka-based BBQ Holdings for around $200 million. Besides owning Granite City and Famous Dave’s, BBQ Holdings’ brands include Bakers Square, Village Inn, and Champps.

“This transaction represents another key acquisition for MTY as we further scale and enhance our existing U.S. portfolio through the addition of nine unique brands. The transaction combines highly complementary businesses, including BBQ Holdings’ exciting casual and fast casual brands. BBQ Holdings’ restaurants are well established within each of their respective markets with a strong network of franchise partners, well-run corporate-owned locations, and a best-in-class management team,” commented Eric Lefebvre, Chief Executive Officer of MTY.

Jeff Crivello, Chief Executive Officer of BBQ Holdings, added, “We are thrilled to partner with MTY and its talented team of restaurant operators. Over the past four years, we have significantly grown revenue and our restaurant portfolio while building a world-class team of entrepreneurs. We look forward to continuing the execution of our three pillars of growth, which we believe align very closely with MTY’s vision. With more than 80 brands, MTY brings vast buying power and a team of industry leaders who will provide additional support to our franchise partners. As our founder Dave Anderson says, we strive to deliver famous experiences with our ‘yes is the answer, what’s the question’ hospitality.”

The sale is expected to close by the fourth quarter of 2022 after it was unanimously approved by the board of directors.

The first Granite City Food & Brewery location opened in St. Cloud in 1999 and has since grown to 30 locations in 13 states. The Famous Dave’s near the Crossroads Center Mall closed in 2019 but opened a ghost kitchen inside Granite City in 2020.

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