Hopdoddy and Grub to Form Better-Burger Powerhouse

AUSTIN, Texas and COLLEGE STATION, Texas, Jan. 13, 2022 /PRNewswire/ -- Hopdoddy Burger Bar, the popular Austin-born burger joint, announced today that it has entered into a definitive agreement to acquire Grub Burger Bar, the Bryan, Texas-based brand known for its signature burgers, hand-spun shakes, scratch kitchen, and craft cocktail bar, to bring a shared vision and craveable menus to more burger lovers across the nation. Terms of the transaction were not disclosed.

The two high-performing brands intend to capitalize on many complementary capabilities while rapidly expanding into new markets. The new combined company, HiBar Hospitality Group, is backed by L Catterton and will be led by Hopdoddy CEO Jeff Chandler. Grub founder and CEO Jimmy Loup will retain a stake in the combined business and join the company's board of directors.

Hopdoddy, which has been part of the L Catterton family since 2014, is recognized as an award-winning burger bar and a unique, creative industry leader in the better burger space, creating fanatical followers nationwide. With its unique and compelling brand positioning, menu offerings, and superior, category-leading financial results, Hopdoddy is ramping up development and expanding in its core markets at a continued pace of 8-12 units per year. Hopdoddy currently owns and operates 32 restaurants across five states and is growing rapidly.

"We're thrilled to join forces with Grub, a high quality and complementary brand that we have admired for years," said Chandler. "We have much in common, from our team-centric cultures and commitment to people, to exciting menus and a tireless focus on the guest experience. We think very much alike and share a long-term vision, which will serve us well as we come together and embark on our next stage of growth."

Founded in 2012 by Jimmy Loup, Grub currently owns and operates 18 restaurants across four states. Grub has built a successful brand around its scratch kitchen, featuring chef-driven burgers and sandwiches, handcrafted shakes, and full-service bar with craft cocktails and a wide selection of draft beer and wine. With its best-in-category guest satisfaction scores and online review ratings, Grub's dedication to the guest experience has created a loyal customer base that has helped the brand grow to where it is today and positioned it for continued growth. 

"As Jeff and I quickly learned after spending time together, we have shared values, objectives, and nearly identical operating philosophies," Loup said. "For Grub, this is all about adding talent and expertise to our team, benefiting from new shared opportunities, rewarding our loyal investors, and moving back into growth mode again. It's going to be a lot of fun growing together and bringing the best of both brands to our mutual guests as well as reaching a whole new group of burger fans."

Hopdoddy and Grub now operate 50 restaurants combined, with 31 restaurants in Texas alone and plans for immediate, continued growth both in the Lone Star State and in other key markets. With Grub locations stretching as far east as Georgia and Florida, the transaction extends the company's combined geographic footprint into an area of the country that is ripe for expansion. The combined company will focus on building up its team to support its aggressive growth plans, both organically and through M&A.

ABOUT HOPDODDY
Hopdoddy Burger Bar is an Austin-born burger joint created to honor the perfect union of burgers & beer. Hopdoddy delivers fresh, all-natural burgers alongside hand-cut fries, farm fresh salads, and handspun milkshakes. Hopdoddy is dedicated to using the finest hormone and antibiotic-free meats that are ground in-house and served on buns made throughout the day in the in-house bakery. Among many accolades, Hopdoddy ranked #1 on Business Insider's list of The 50 Best Burger Joints in America. Hopdoddy is a part of the L Catterton Family. For more information, visit hopdoddy.com.

ABOUT GRUB
Grub stands for Good people, Real food, Unique vibe and Big flavors. Chef-crafted burgers and freshly baked buns are what Grub is known best for, but fresh salads, hand-battered chicken, made-from-scratch sauces & sides, hand-spun shakes, and vegetarian-friendly options are also available. Every location includes patio seating and a full-service bar featuring craft cocktails, draft beer served in ice-cold frozen mugs and a selection of wines. Founded in 2012 in College Station, Texas, Grub has grown to 18 locations across four states. For more information, visit grubkitchenandbar.com. 

ABOUT HIBAR HOSPITALITY
At HiBar, hospitality is not a word, but an experience that is best served by people who give a damn. Our team of talented and passionate individuals lives to raise the bar on yesterday's expectations and deliver unforgettable dining experiences. HiBar Hospitality is the combined ownership entity for Hopdoddy Burger Bar and Grub Burger Bar.

ABOUT L CATTERTON
With more than $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. Leveraging deep category insight, operational excellence, and a broad strategic network of relationships, L Catterton's team of nearly 200 investment and operating professionals support management teams around the world in building strong, category-leading brands. Since 1989, the firm has made over 250 investments in consumer businesses. For more information about L Catterton, please visit lcatterton.com.

SOURCE Hopdoddy Burger Bar