This popular chain of metro Phoenix Mexican restaurants sold for $28M to a BBQ chain
By: AZ Central
Barrio Queen, a popular metro Phoenix chain of Mexican restaurants, will soon be part of the Famous Dave's restaurant family.
Phoenix Business Journal reported this week that the barbecue chain's parent company BBQ Holdings Inc. signed a purchase agreement with the local restaurant group and the $28 million acquisition is expected to close within the next 45 days.
The article details a series of recent acquisitions by BBQ Holdings, which is based out of Minnetonka, Minnesota. In addition to Barrio Queen, the company recently purchased three undisclosed "bar-centric locations" for $4.5 million, in addition to purchasing Village Inn and Baker's Square last year.
To reflect these shifts, the company also announced to the Phoenix Business Journal this week that it's changing its name from BBQ Holdings to Famous Hospitality Inc.