Hopdoddy Burger Bar announced Thursday that it has entered into an agreement to acquire Grub Burger Bar. Terms of the transaction were not disclosed.
A new combined company, HiBar Hospitality Group, is backed by L Catterton, which currently owns Hopdoddy, and will be led by Hopdoddy’s CEO Jeff Chandler. Grub founder and CEO Jimmy Loup will hold a stake in the combined business and be a member of the company’s board of directors.
“We’re thrilled to join forces with Grub, a high quality and complementary brand that we have admired for years,” Chandler said in a statement. “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.”
Grub was founded in 2012 by Loup, and the company owns and operates 19 restaurants across four states. Once Hopdoddy acquires Grub, the combined company will operate 51 restaurants, including 32 in Texas. Hopdoddy and Grub each have one location in College Station.
“As Jeff and I quickly learned after spending time together, we have shared values, objectives, and nearly identical operating philosophies,” Loup said in a statement. “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.”