Cracker Barrel is making some big menu-sized changes. But don’t panic, your roadside hashbrown casserole isn’t going anywhere.
Instead, the restaurant chain is slimming down behind the scenes by selling off its Maple Street Biscuit Company business, closing 16 Maple Street locations, and cashing in on some of its real estate as it tries to cut debt and boost profits.
Maple Street is getting a new owner
Cracker Barrel bought Maple Street Biscuit Company in 2019, but it never became a major piece of the business. In fact, the fast-casual breakfast brand generated less than 2% of Cracker Barrel’s annual revenue.
Now, Cracker Barrel has sold the Maple Street brand and assets tied to 35 restaurants to Biscuit Belly LLC, another breakfast-focused chain. The remaining 16 Maple Street locations will close rather than change hands.
Biscuit Belly is about to get a whole lot bigger
For Biscuit Belly, this is basically the restaurant equivalent of finding a rare expansion pack. The company currently operates just 15 locations, but buying Maple Street’s restaurants will more than triple its footprint…