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Brand details $140M investment in restaurant-entertainment concept
Cracker Barrel Old Country Store Inc. is confident its July investment in the Punch Bowl Social concept offers growth potential for the company, which is entering its 50th year in business, executives said Tuesday.
The Lebanon, Tenn.-based family dining and retail brand on July 18 entered into an agreement with Denver-based Punch Bowl to take a non-controlling equity interest and provide growth capital for development of the 18-unit brand founded in 2012.
“Punch Bowl Social is a highly differentiated brand with strong growth potential,” said Jill Golder, Cracker Barrel chief financial officer, in a fourth-quarter earnings call.
With targeted average unit volumes of $7 million to $8 million, Punch Bowl Social expects to open an additional si...
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