Overview
- Cracker Barrel transferred Maple Street Biscuit Company’s trademark, intellectual property and 35 restaurants to Louisville-based Biscuit Belly and will permanently close the 16 locations not included in the sale.
- The company completed a sale-leaseback of 26 company-owned Cracker Barrel restaurants that generated about $77 million in net proceeds to pay down debt and improve its balance sheet.
- Biscuit Belly plans to convert acquired Maple Street sites to its brand starting in January 2027 and expects the transition to take roughly 18–24 months as it grows to about 60 restaurants.
- Local effects are already visible in Alabama, where Daphne and Mobile locations were included in the sale and will stay open through conversion while the Madison location will close permanently, creating immediate changes for staff and customers.
- The move follows a year of weaker sales and public scrutiny for Cracker Barrel and is framed by management as a simplification strategy to sharpen focus on the flagship business and support better profitability into fiscal 2027.