MTY Food Group Inc. to Acquire BBQ Holdings, Inc.


MONTREAL — MTY Food Group Inc. has entered into a merger agreement to acquire all of the issued and outstanding common shares of BBQ Holdings, Inc. for US$17.25 per share, representing a total transaction value of roughly US$200 million. Upon completion of the transaction, BBQ Holdings will become a subsidiary of MTY and the shares of BBQ Holdings will be de-listed from NASDAQ.

BBQ Holdings is a franchisor and operator of casual and fast-casual restaurants in the U.S., Canada and United Arab Emirates. Its flagship restaurant brands operate under the Famous Dave’s, Village Inn, Barrio Queen and Granite City banners. As of August 8, 2022, BBQ Holdings operates more than 200 franchised and more than 100 corporate-owned restaurants.

“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,” says Eric Lefebvre, CEO of MTY.

“We are thrilled to partner with MTY and its talented team of restaurant operators,” says Jeff Crivello, CEO of BBQ Holdings. “Over the past four years, we have significantly grown revenues 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.” 

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