Cracker Barrel is streamlining its empire by offloading Maple Street Biscuit Company and 26 of its own restaurants in a savvy move to cut debt and sharpen focus on its core brand. Maple Street’s 35 locations are being sold to Biscuit Belly, LLC, while 16 close permanently — a move that won’t dent earnings much since Maple Street contributed less than 2% annually. The sale-leaseback deal nets $77 million, which Cracker Barrel will use to pay down debt and extend tax benefits. The stock jumped 9% on the news, and Biscuit Belly plans to rebrand the acquired spots, expanding its own footprint. This follows Cracker Barrel’s strong Q3 earnings and revised outlook — signaling momentum toward even higher profits.
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