BBQ - BBQ Holdings agrees to acquire Village Inn Bakers Square restaurants; increases FY2021 guidance

10'000 Hours/DigitalVision via Getty Images BBQ Holdings (BBQ) is adding two exciting brands to its roster with the acquisition of Village Inn, a family restaurant concept with 21 company-owned restaurants and 114 franchised restaurants, and Bakers Square, a pie and comfort food concept currently with 13 company-owned restaurants. The transaction, which was announced by BBQ Holdings and VIBSQ-the parent company behind Village Inn and Bakers Square-is expected to close by the end of July. The company also increased FY21 guidance as follows: Net Restaurant Revenue from $155M-$160M to $180M-$185M; Net income from $2.8M-$3.2M to $5.1M-$5.5M; and cash EBITDA from $10M-$10.5M to $13.5M-$14.0M. Jeff Crivello, CEO, commented, "We are excited to increase our revenue, and earnings guidance for fiscal year 2021. This guidance is a reflection of our organic and M&A growth plans. We believe this acquisition will be accretive to our earnings and that there is a significant amount of pent-up demand

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BBQ Holdings agrees to acquire Village Inn, Bakers Square restaurants; increases FY2021 guidance