BBQ Holdings Inc., has struck a deal to acquire Barrio Queen, the seven-unit Phoenix, Arizona-based Mexican fine-dining restaurant.
BBQ Holdings is 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. Earlier this month, BBQ Holdings announced that its Famous Dave's brand is openinga “Quick ‘Que,” a drive-thru with counter-serve also offered, opens in South Salt Lake, Utah.
The Barrio Queen buyout is set to close in early April and marks the third acquisition for the company over the past year. The $28 million dollar acquisition price will be funded with cash and debt. Barrio Queen was founded in 2011 and is known for its authentic Mexican cuisine, vibrant atmosphere, and extensive tequila offerings. Linda Nash is co-owner with her husband Steve Rosenfield.
According to Jeff Crivello, BBQ Holdings’ CEO, Barrio Queen will fill a gap in its portfolio of brands. "...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 a lease signed for an eighth location with a target opening date of December 2022.