BBQ Holdings, Inc. - BBQ STOCK NEWS

On August 9, 2022, MTY Food Group announced a definitive merger agreement to acquire BBQ Holdings for US$17.25 per share, totaling approximately US$200 million, including debt. The merger was approved by both companies' boards and is expected to close in Q4 2022, pending regulatory approvals. BBQ Holdings operates over 300 restaurants, including brands like Famous Dave's and Granite City. Post-merger, MTY will expand its footprint to approximately 7,000 locations, with a significant increase in U.S. sales contribution and an expected boost in cash flow per share.

BBQ Holdings reported a 72% increase in total revenue for Q1 2022, reaching $64.2 million, driven by acquisitions and increased dine-in traffic. Net income decreased slightly to $767,000 due to higher food and labor costs. The acquisition of Barrio Queen was finalized for approximately $28.5 million. Cash EBITDA improved to $3.7 million, while restaurant-level margins dropped to 6.4%. The company expects 2022 net revenue of $280-290 million and a diluted earnings per share of $1.15 to $1.45.

Famous Dave's, owned by BBQ Holdings (NASDAQ: BBQ), has chosen Presto as its exclusive provider for next-gen pay-at-table solutions. This partnership aims to enhance guest experience, increase guest loyalty, and improve labor productivity across U.S. locations. The Presto system offers convenience and robust security features like EMV and mobile payment support. Presto's technology is set to streamline operations and drive repeat visits, benefiting Famous Dave's in table turns and staff efficiency.

BBQ Holdings, Inc. reported substantial financial growth for Q4 and fiscal year 2021, with total revenues rising to $68.4 million, up 99.6% YoY, and a net income of $2.6 million, compared to a loss of $2.8 million in Q4 2020. The company attributed this growth to acquisitions and improved restaurant-level margins. Additionally, BBQ Holdings has executed asset purchase agreements for Barrio Queen and three bar-centric locations, enhancing its brand portfolio. The company expects 2022 net restaurant revenue between $265-$280 million and aims to rename itself Famous Hospitality, Inc. for brand alignment.

BBQ Holdings, Inc. (NASDAQ: BBQ) reported a significant financial performance for Q3 2021, with total revenue rising to $55.4 million, a 56% increase from the previous year. Net income surged to $4.8 million, up from $0.3 million in Q3 2020. Adjusted EBITDA also improved to $4.4 million, compared to $2.0 million last year. The company reaffirmed its revenue guidance for 2021 while increasing its net income and cash EBITDA forecasts. Growth initiatives included the acquisition of Village Inn and Bakers Square, along with new restaurant openings.

BBQ Holdings, a multi-brand restaurant company, has announced the acquisition of Tahoe Joe's, a five-unit steakhouse chain based in California. The acquisition will close on October 8, 2021, marking BBQ Holdings' second acquisition this year. CEO Jeff Crivello highlighted the strategic fit of Tahoe Joe's with their existing brands like Famous Dave's. The deal also encompasses intellectual property from several buffet brands, though there are no immediate plans to reopen them. BBQ Holdings currently operates 299 locations across three countries, focusing on growth through organic expansion and strategic acquisitions.

BBQ Holdings has appointed Manny Packing as the new Vice President of Franchise Sales and Real Estate. With over two decades of experience, Packing aims to expand Famous Dave's footprint across the U.S. and globally. Previously, he held a position at Inspire Brands, overseeing real estate and development for numerous franchise brands. BBQ Holdings, operating multiple restaurant brands, is poised for growth under Packing's leadership. As of September 20, 2021, the company had 296 locations across three countries and continues to diversify its offerings.

BBQ Holdings (NASDAQ: BBQ) announced the engagement of FNK IR to enhance its investor outreach and communication program. CEO Jeff Crivello noted significant operational progress and a strong response to the pandemic, positioning BBQ as an attractive target for mergers and acquisitions. FNK IR's Managing Partner, Rob Fink, highlighted the company's diversified portfolio and commitment to off-site revenue streams, emphasizing strong free cash flow and sustainable profitability. BBQ Holdings operates 296 locations across three countries, expanding its offerings with ghost kitchens and casual dining experiences.

BBQ Holdings has partnered with Blackhawk Network to enhance the distribution of gift cards for its brands, including Famous Dave's and Granite City Food & Brewery. This collaboration aims to bridge a significant gap in both physical and digital gift card availability, especially during the upcoming holiday season. Blackhawk's solutions will enable the gift cards to be sold in-store and online at major retailers. Gift card sales in the dining sector are projected to grow by 20-40% as consumers look forward to dining experiences again.