JACKSONVILLE, Fla. – Jacksonville-based Maple Street Biscuit Company has been acquired by Cracker Barrel Old Country Store Inc. for $36 million in cash, the Jacksonville Daily Record reported Friday.
Maple Street was founded by Scott Moore and Gus Evans in Jacksonville in 2012 with a single restaurant in San Marco and has since grown to 33 locations in seven states, the Daily Record, a News4Jax news partner, reported.
Cracker Barrel said in a media release that Moore will remain CEO of the Maple Street chain.
“We have long admired Maple Street Biscuit Company with its emphasis on made-from-scratch food and hospitality,” Cracker Barrel CEO Sandra Cochran said in the release.
Moore said the acquisition by Cracker Barrel will help Maple Street grow.
“Our brands share many similarities such as scratch cooking and an emphasis on hospitality,” he said.
Cochran said the company’s Holler & Dash restaurants showed the breakfast and lunch fast casual segment is an attractive market, which led to its interest in Maple Street, the Daily Record reported.
“It is a proven brand with attractive unit economics and strong growth potential, and it is positioned to become a leader in this category,” she said.