Landry’s buys three Cadillac Ranch units, while BBQ Holdings adds 25-unit Granite to its growing portfolio of brands
BBQ Holdings, the parent of Famous Dave’s, continues to diversify its portfolio with the acquisition of 25-unit casual dining chain Granite City Food and Brewery. The asset sale comes two months after the Minneapolis-based operator Granite City Food & Brewery Ltd. filed for Chapter 11 bankruptcy protection.
BBQ Holdings CEO Jeff Crivello said the Minnetonka, Minn.-based company is only buying the assets of the 25-unit Granite City Food Brewery. The value of the deal, which is slated for court approval Feb. 21, was not disclosed.
Granite also owns four Cadillac Ranch restaurants. Three of the four locations were picked up by Landry's.
“We are proud to announce Cadillac Ranch has joined our Landry’s portfolio of casual dining concepts," Steve Scheinthal, executive vice president and general counsel for Landry’s, told NRN in a statement late Thursday. "We are excited to expand our presence in Pittsburgh; National Harbor, Maryland; and Bloomington, Minnesota inside The Mall of America.”
Landry's did not disclose the value of the deal.
Crivello said BBQ Holdings, which has been developing new format stores and brands, will add items from Famous Dave’s BBQ to the Granite City menu “where we feel appropriate.”
“We will also add Granite City beer to Famous Dave’s menu where liquor laws allow us to transport,” he told NRN in an email.
The company intends to operate Granite City as is with no plans to rebrand.
“BBQ Holdings will determine over the next 60 days how many Granite City locations will remain open,” Crivello said.
Granite City Food & Brewery, intended to grow as a chain of restaurant-microbreweries, was founded in 1999 by industry veterans who worked for the Champp’s Americana. In 2007, Granite was named a 2007 NRN Hot Concept winner.
“This meaningfully accretive acquisition of Granite City Food and Brewery aligns with our strategy to accelerate growth and expansion as a multi-brand restaurant company,” Crivello said in a statement. “As an award-winning concept, Granite City is a fantastic addition to the BBQ Holdings family, and we look forward to the synergies we can create between multiple brands.”
BBQ Holdings recently opened several new restaurant concepts including Clark Crew BBQ in Oklahoma City and Real Famous BBQ in Utah. In addition, the company is adding smaller-footprint concepts in Minneapolis.
Clark Crew BBQ is a full service restaurant that features “competition” barbecue by famed pitmaster Travis Clark. The menu includes Clark’s “championship BBQ, steaks and burgers,” Crivello said.
Real Famous BBQ is counter-service concept. BBQ Holdings has 126 locations operating under the three brands.
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2/13 Update: This story has been edited to include a statement from Landry's.
