Famous Dave's parent company has added another brand to its portfolio.
BBQ Holdings, Inc., the multi-brand restaurant company also behind Granite City Food and Brewery, Village Inn and Bakers Square, acquired Tahoe Joe’s, the five-unit Central Valley, California-based steakhouse chain on October 8.
The transaction also includes the IP of Home Town Buffet, Ryans, Furr’s Fresh Buffet, and Old Country Buffet. The company has no immediate plans to reopen the buffet brands.
This marks the second acquisition for the brand this year. In July, BBQ Holdings purchased Village Inn, a family restaurant concept with 21 company-owned restaurants and 114 franchised restaurants, and Bakers Square, a pie and comfort food concept with 12 company-owned restaurants.
According to Jeff Crivello, BBQ Holdings’ CEO, Tahoe Joe’s will complement the restaurant group’s roster of brands seamlessly.
Marking the brand’s second acquisition this year, Crivello says “BBQ Holdings is on a steep trajectory. We continue to execute our three pillars of growth. First, filling latent capacity in our current restaurants with ghost kitchens, virtual brands, and dual concepts. Second, organic new restaurant units, and third, accretive and strategic M&A.”
Virtual Brands Heat Up
BBQ Holdings’ is also among the restaurants looking to boost incremental revenue by adding virtual brands. Dickey's Barbecue, Fazoli's, Brinker International, Nathan's Famous and Chuck E. Cheese and Dog Haus have launched virtual wing brands in recent months, and comes as Americans are eating more comfort food. One of the most advantageous is Concept Entertainment Group's online food hall concept, which received HT’s Industry Hero Award.
The 26-year-old legacy brand Tahoe Joe’s is known for its famous Lake Tahoe steaks, burgers, pork chops and railroad camp shrimp. With Tahoe Joe’s roots in BBQ, their Famous pellet broiled steaks and chops are a perfect fit for the Famous Dave's menu.