Cracker Barrel Sells Maple Street Biscuit Co. to Biscuit Belly

Cracker Barrel Old Country Store announced this week that it has sold the Maple Street Biscuit Company brand and 35 of its locations to Biscuit Belly, a Southeast chain. The acquisition will more than triple Biscuit Belly's current footprint, with plans to convert the acquired Maple Street locations to the Biscuit Belly brand over the next 18 to 24 months. The initial conversions are slated for stores in Cincinnati and Richmond, Virginia. As part of the divestiture, Cracker Barrel will close 16 Maple Street Biscuit Company locations that were not included in the sale to Biscuit Belly. Cracker Barrel did not disclose the financial terms of the sale but anticipates non-cash charges ranging from $43 million to $47 million between the final quarter of fiscal year 2026 and fiscal year 2027, with the majority impacting fiscal year 2027. Maple Street Biscuit Company represented less than 2% of Cracker Barrel's annual revenue. Cracker Barrel operates approximately 660 stores under its namesake brand. The company also announced a completed sale-leaseback transaction for 26 of its Cracker Barrel locations, expecting net proceeds of around $77 million, which will be allocated towards debt reduction. Cracker Barrel President and CEO Julie Masino stated that divesting Maple Street sharpens the company's focus on its core brand and is expected to enhance profitability. The specific Maple Street locations slated for closure have not yet been publicly identified by Cracker Barrel.