Who Owns Maple Street Biscuit Company?
The Maple Street Biscuit Company is currently owned by Cracker Barrel Old Country Store, Inc., a publicly traded company (NASDAQ: CBRL). Cracker Barrel acquired the restaurant chain in October 2019.
The Rise of Maple Street Biscuit Company
Maple Street Biscuit Company, founded in Jacksonville, Florida, in 2012 by Scott Moore and Gus Evans, quickly became a beloved regional chain. Its success stemmed not only from its delicious, Southern-inspired biscuit creations but also from its commitment to community and fostering a welcoming atmosphere. The company prioritized connecting with its employees and customers on a personal level, creating a loyal following that fueled its rapid expansion.
Cracker Barrel’s Acquisition: A Strategic Move
Cracker Barrel’s acquisition of Maple Street Biscuit Company was a strategic decision driven by several factors. Cracker Barrel sought to diversify its portfolio, appeal to a younger demographic, and gain access to Maple Street’s unique operational model and established brand loyalty. For Cracker Barrel, a company historically associated with a more traditional diner experience, Maple Street represented an opportunity to enter the fast-casual market and capture a larger share of the breakfast and lunch segment.
The Benefits for Maple Street
The acquisition by Cracker Barrel provided Maple Street Biscuit Company with significant resources for continued growth and expansion. The partnership offered access to Cracker Barrel’s extensive supply chain, marketing expertise, and capital investment, allowing Maple Street to open new locations and reach a wider audience. Furthermore, the deal provided financial security and opportunities for advancement for Maple Street’s employees.
How Maple Street Operates Under Cracker Barrel
While owned by Cracker Barrel, Maple Street Biscuit Company maintains its distinct brand identity and operational principles. Cracker Barrel has largely allowed Maple Street to operate independently, preserving its unique culture and menu offerings. This approach has been crucial in maintaining the brand’s appeal and avoiding alienation of its loyal customer base.
Common Misconceptions About the Acquisition
One common misconception is that the acquisition led to a complete overhaul of Maple Street’s menu and culture. While some adjustments have inevitably occurred, Cracker Barrel has largely respected Maple Street’s existing brand identity and core values. Another misconception is that the founders are no longer involved. While no longer actively managing the day-to-day operations, their influence and initial vision continue to shape the brand.
Table: Key Differences Between Maple Street and Cracker Barrel
| Feature | Maple Street Biscuit Company | Cracker Barrel Old Country Store |
|---|---|---|
| Target Audience | Younger, urban professionals, families | Families, travelers, older demographic |
| Menu | Biscuit-centric, innovative Southern cuisine | Traditional Southern comfort food |
| Atmosphere | Community-focused, modern, casual | Rustic, country-style, nostalgic |
| Service Style | Fast-casual, order at the counter | Full-service, sit-down dining |
Bullet List: Key Aspects of the Acquisition
- Date of Acquisition: October 2019
- Acquiring Company: Cracker Barrel Old Country Store, Inc.
- Acquired Company: Maple Street Biscuit Company
- Strategic Rationale: Diversification, appeal to younger demographics, access to a successful fast-casual concept.
- Operational Approach: Preservation of Maple Street’s brand identity and culture.
Frequently Asked Questions (FAQs)
What was the purchase price of Maple Street Biscuit Company?
Cracker Barrel acquired Maple Street Biscuit Company for approximately $36 million in an all-cash transaction. This figure reflects the company’s valuation based on its financial performance and growth potential at the time of the acquisition.
Are the original founders still involved in Maple Street?
While Scott Moore and Gus Evans are no longer involved in the daily operations of Maple Street Biscuit Company, their initial vision and influence continue to shape the brand’s identity and culture. They successfully transitioned the company to Cracker Barrel, ensuring that its core values were preserved.
Has the Maple Street menu changed significantly since the acquisition?
While there may have been minor adjustments to the menu over time, the core biscuit-centric offerings and signature dishes that made Maple Street popular have largely remained unchanged. Cracker Barrel has recognized the importance of maintaining the menu that resonated with Maple Street’s loyal customer base.
Does Cracker Barrel plan to convert all Maple Street locations into Cracker Barrels?
There are no current plans to convert Maple Street locations into Cracker Barrel restaurants. The intention is to maintain Maple Street as a distinct brand within the Cracker Barrel portfolio, catering to a different segment of the market.
How has the acquisition affected Maple Street employees?
The acquisition has generally had a positive impact on Maple Street employees. It provided access to Cracker Barrel’s resources, including improved benefits and opportunities for career advancement.
Is Maple Street still based in Jacksonville, Florida?
While owned by Cracker Barrel, the **day-to-day operations of Maple Street Biscuit Company remain centered* around its founding location in Jacksonville, Florida.
Will Maple Street expand to more locations now that it’s part of Cracker Barrel?
The acquisition has provided Maple Street with the resources and support to pursue further expansion. Cracker Barrel’s investment has enabled the company to open new locations in strategic markets, reaching a wider audience.
Has the quality of food at Maple Street changed since the acquisition?
Cracker Barrel has emphasized the importance of maintaining the high quality of food and service that made Maple Street successful. There have been no significant changes in food sourcing or preparation that would negatively impact the customer experience.
What are Cracker Barrel’s long-term plans for Maple Street?
Cracker Barrel’s long-term plans for Maple Street involve continued growth and expansion while preserving the brand’s unique identity. The goal is to leverage Maple Street’s success as a fast-casual concept and complement Cracker Barrel’s existing restaurant offerings.
Can I use Cracker Barrel gift cards at Maple Street?
Generally, no. Cracker Barrel gift cards are not accepted at Maple Street Biscuit Company locations, and vice versa. These are operated as separate entities with distinct point-of-sale systems.
Is Maple Street considered a franchise or a corporate-owned chain?
Maple Street Biscuit Company is primarily a corporate-owned chain. While there may be some licensed locations or variations in ownership models, the majority of Maple Street restaurants are directly owned and operated by Cracker Barrel.
How does Maple Street maintain its community focus under corporate ownership?
Maple Street strives to maintain its community focus by continuing to support local initiatives, partnering with local organizations, and fostering a welcoming atmosphere in its restaurants. While owned by a large corporation, the company remains committed to its original values of community engagement and social responsibility.