Benzinga | Oct 6, 2021 03:12PM EDT

BBQ Holdings reports Purchase Of Tahoe Joe's Steakhouse Chain, No Terms Disclosed

BBQ Holdings, Inc., the multi-brand restaurant company behind fan-favorite restaurant concepts such as Famous Dave's, Granite City Food and Brewery and most recently Village Inn and Bakers Square, is adding yet another brand to its portfolio with the acquisition of Tahoe Joe's, the five-unit Central Valley, California-based steakhouse chain. The deal is set to close on Friday, October 8th and marks the second acquisition for the brand this year. The 26-year-old legacy brand Tahoe Joe's is known for its famous Lake Tahoe steaks, burgers, pork chops and railroad camp shrimp.

According to Jeff Crivello, BBQ Holdings' CEO, Tahoe Joe's will complement the restaurant group's roster of brands seamlessly. "We are thrilled to welcome Tahoe Joe's into the BBQ Holdings Family. This well-loved brand will fold seamlessly into our portfolio, and we can't wait to start working with the fantastic people who have made Tahoe Joe's what it is today, and to get the brand on a rejuvenated path to growth," said Crivello.

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."

With Tahoe Joe's roots in BBQ, their Famous pellet broiled steaks and chops are a perfect fit for the Famous Dave's menu.

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.