Cracker Barrel Divests Maple Street Biscuit Brand, Closes 16 Stores, Raises $77M via Sale-Leaseback on July 21

According to Fox Business, on July 21, Cracker Barrel (NASDAQ: CBRL) sold the Maple Street Biscuit Company brand and 35 restaurant locations to Biscuit Valley and closed an additional 16 Maple Street restaurants. The company also completed a sale-leaseback transaction on 26 company-owned stores, raising approximately $77 million to reduce debt. Maple Street represents less than 2% of Cracker Barrel's annual revenue. The restructuring is expected to improve the company's adjusted EBITDA beginning in fiscal year 2027.
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