BBQ Holdings, Inc., the multi-brand restaurant company behind restaurant concepts such as Famous Dave’s, Granite City Food and Brewery, Real Urban BBQ, Village Inn, Bakers Square and Tahoe Joe’s Famous Steakhouse, is adding another brand to its portfolio with the acquisition of Barrio Queen, the seven-unit Phoenix, Arizona-based Mexican fine-dining restaurant. The deal is set to close in early April and marks the third acquisition for the Company over the past year. Barrio Queen was founded in 2011 and is known for its authentic Mexican cuisine and extensive tequila offerings.
Linda Nash, Co-Owner with her husband Steve Rosenfield of Barrio Queen said in a statement, “We are thrilled to pass the baton to the BBQ Holdings team and couldn’t be more proud of what we have built. The success of these restaurants is the result of many years of hard work and dedication from the Barrio team. We are confident the transition will be smooth and seamless thanks to Anish Gandhi and his team at Brookwood Associates, who advised on the transaction.”
According to Jeff Crivello, BBQ Holdings’ CEO, Barrio Queen will fill a gap we have in our portfolio of brands. “We are excited to welcome Barrio Queen into the BBQ Holdings family. It’s a beloved brand with an entrepreneurial team that has done a great job. The food offerings and environment are unlike any of our other brands. It will be a truly unique addition to our portfolio. We look forward to continuing their path of success.”
Barrio Queen currently has seven operating restaurants throughout Arizona and has a lease signed for an eighth with a target opening date of December 2022. The $28 million dollar acquisition price will be funded with cash and debt. The Company says further details will be available post closing.
