Gourmet biscuit sandwich chain Biscuit Belly has acquired 35 store locations from Cracker Barrel’s subsidiary Maple Street Biscuit Company. The remaining 16 Maple Street stores will close as Cracker Barrel exits the brand.

The deal ramps up Biscuit Belly’s expansion plans as it expects to grow its footprint to more than 60 locations by the end of 2028.

The company will begin converting Maple Street restaurants in the greater Cincinnati area and Richmond, Virginia, to the Biscuit Belly brand, with additional conversions planned over the coming months.

Chad Coulter, co-founder and CEO of Biscuit Belly, said acquiring Maple Street was “not on his 2026 bingo card”.

“Two of the biggest headwinds growing brands face are the time required to find and build locations, and the challenge of finding great teams,” Coulter said.

“When we looked at Maple Street’s geography, footprints, and established teams, a light bulb went off.”

Biscuit Belly said it plans to preserve Maple Street’s culture and community while introducing its signature menu and colorful restaurant design.

For Cracker Barrel, the exit from Maple Street marks another step in sharpening its focus on its core business and improving profitability.

Alongside the Maple Street divestment, the company completed a sale-leaseback transaction covering 26 company-owned Cracker Barrel restaurants, generating approximately $77 million in net proceeds.

The funds will be used to reduce debt.

“Our sale-leaseback transaction will allow us to opportunistically reduce debt while monetizing a portion of our owned real estate at an attractive valuation,” said president and CEO Julie Masino.

• Further reading: Legal settlement boosts Cracker Barrel’s profits.