Cracker Barrel has made a move to invest in fast-growing entertainment and dining chain Punch Bowl Social. The investment will be valued up to US$140 million and will give Cracker Barrel a noncontrolling stake in Punch Bowl, and the option to buy the chain outright.
Sandy Cochran, Cracker Barrel CEO, said, “Cracker Barrel and Punch Bowl Social are both highly experiential brands that emphasise quality food and beverage, hospitality and fun. We love what Punch Bowl Social has built and are excited about helping them continue to grow.”
Punch Bowl currently operates 17 locations across 12 different states and has become known for its combination of quality dining and modern entertainment options. Punch Bowl was founded in 2012 by Robert Thompson, who commented on the partnership with Cracker Barrel, saying, “[it’s] a tremendous opportunity for the entire Punch Bowl Social family.”
