AUSTIN, Texas — Austin’s top-ranked LGBTQ+ bar for the past 15 years, Cheer Up Charlies, has been acquired by an investment firm expanding in LGBTQ+ hospitality and entertainment, joining a portfolio of iconic LGBTQ+ brands.
Pride Holdings Group announced the acquisition on Tuesday, stating it marked a significant step in the company’s national expansion strategy to build a leading network of LGBTQ+ entertainment and destinations across the United States.
Founders Tamara and Maggie Lea will remain in leadership roles to ensure a seamless transition while maintaining the bar’s community-driven identity.
Maggie expressed excitement about joining Pride Holdings, stating, “We are beyond excited to join the Pride Holdings family and enter into this new chapter of our existence. Being a part of Pride will help us find the long-term stability and provide the financial backing we’ve always dreamed of. We are thrilled to have found a team like Pride Holdings that aligns with our mission, and we also can’t wait to grow the brand all across Texas!”
Cheer Up Charlies, known for its vibrant community and inclusive atmosphere, faced a potential lockout on Sept. 1 after falling behind on rent during what management described as a slow summer with declining weekday foot traffic and rising operational costs. But they successfully raised enough money to cover back rent and avoid closure after launching an emergency fundraising campaign.
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Pride Holdings plans to expand the bar’s brand in Texas, with future openings in Dallas, Houston, and San Antonio projected within two years.
Mike Barrett, CEO of Pride Holdings Group, emphasized the importance of preserving the essence of LGBTQ+ spaces while enhancing their visibility and profitability.
“Cheer Up Charlies isn’t just a bar—it’s a symbol of community, resilience, and celebration,” Barrett said. “We’re honored to carry forward its incredible legacy while giving it the resources to grow and thrive.”