Texas, US-based burger chain Hopdoddy Burger Bar has entered a definitive agreement to acquire Grub Burger Bar for an undisclosed sum.
Established in 2012 in Bryan, Texas, Grub Burger Bar currently operates 18 restaurants across four states in the US.
Its menu offerings include burgers, sandwiches, hand-spun shakes, craft cocktails, draft beer and wine.
Hopdoddy’s menu includes ‘all-natural’ burgers, hand-cut fries, salads and hand-spun milkshakes.
The two restaurant firms will merge their businesses to create a new company called HiBar Hospitality Group, which will be supported by private equity firm L Catterton.
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HiBar Hospitality Group will be led by Hopdoddy CEO Jeff Chandler.
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By GlobalDataGrub founder and CEO Jimmy Loup will join the board of directors and hold a stake in the newly formed entity.
L Catterton has held an investment in Hopdoddy since 2014.
Hopdoddy currently owns and operates 32 restaurants across five states.
Chandler said: “We’re thrilled to join forces with Grub, a high-quality and complementary brand that we have admired for years.
“We have much in common, from our team-centric cultures and commitment to people to exciting menus and a tireless focus on the guest experience. We think very much alike and share a long-term vision, which will serve us well as we come together and embark on our next stage of growth.”
Together, Hopdoddy and Grub will operate 50 restaurants across the US, with 31 restaurants located in Texas.
Hopdoddy and Grub intend to leverage each of their capabilities.
The HiBar Hospitality Group will focus on building up its team to support growth plans, both organically and through mergers and acquisitions.
Commenting on the deal, Loup said: “As Jeff and I quickly learned after spending time together, we have shared values, objectives and nearly identical operating philosophies.
“For Grub, this is all about adding talent and expertise to our team, benefiting from new shared opportunities, rewarding our loyal investors, and moving back into growth mode again.”
