A popular breakfast chain is disappearing as its parent company exits the brand, with Ohio set to play a key role in the transition.
Cracker Barrel has announced it is selling Maple Street Biscuit Company to Kentucky-based Biscuit Belly LLC, ending its ownership of the fast-casual breakfast chain. As part of the deal, 35 Maple Street locations will be acquired and converted into Biscuit Belly restaurants over the next 18 to 24 months, while the remaining 16 restaurants will permanently close. The first conversions are expected to begin in Cincinnati, Ohio, and Richmond, Virginia.
Ohio among the first markets to change
The announcement makes Cincinnati one of the first communities to see the Maple Street name disappear as Biscuit Belly expands its footprint. Biscuit Belly currently operates 15 restaurants and expects the acquisition to grow the brand to more than 50 locations, with plans to continue expanding in the coming years.
Maple Street Biscuit Company is known for its Southern-inspired breakfast and lunch menu featuring biscuit sandwiches, fried chicken, gravy, and specialty coffee drinks. Cracker Barrel purchased the chain in 2019 as part of a strategy to broaden its presence in the fast-casual breakfast market.
Cracker Barrel refocuses on its core business
Cracker Barrel said selling Maple Street Biscuit Company is part of its plan to strengthen the business and focus on its core restaurant brand. The company also sold 26 of its restaurant properties and leased them back, raising about $77 million. According to company executives, the money will help pay down debt and support the company’s financial health while it works to improve profits…