SCOTTSDALE, AZ — Barrio Queen has new owners again.
The restaurant chain founded in Scottsdale was acquired for $28 million earlier this year and now its parent company was acquired by a company with connections to Phoenix in a $200 million deal.
Minnesota-based BBQ Holdings Inc. (Nasdaq: BBQ) announced Tuesday that it agreed to be bought by Canadian franchising company MTY Food Group Inc. for $17.25 per share — a 47% premium over the stock's closing price on Monday. The deal is expected to close in the fourth quarter of this year.
Besides Barrio Queen, BBQ Holdings owned the Famous Dave's, Granite City, Champps, Village Inn and Bakers Square chains.
