Austin-based\u00a0Hopdoddy Burger Bar has been acquired by Founders Table Restaurant Group, a private equity-backed restaurant platform that owns several fast-casual brands across the country.<\/p>\n
The deal was a strategic stock merger with no cash exchanged, but specific terms of the transaction were not disclosed. The company will remain headquartered in Austin.<\/p>\n
The acquisition, announced this week, adds Hopdoddy\u2019s 47 restaurants to Founders Table\u2019s portfolio and expands the group\u2019s footprint to more than 200 locations nationwide. Founders Table owns and operates several restaurant concepts, including\u00a0Chopt and\u00a0Dos Toros. The company said it was founded with the goal \u201cto create, acquire, and cultivate innovative and profitable founder-led restaurant companies\u201d through operational support and shared infrastructure.\u00a0<\/p>\n
The sale also marks a leadership transition at Hopdoddy.<\/p>\n
Jeff Chandler, who has led the burger chain for the past decade, said he will step away from day-to-day management and move to the company\u2019s board of directors. Kenny Jett, Hopdoddy\u2019s vice president of operations, will assume leadership of\u00a0the company. Jett has worked at Hopdoddy since 2018.<\/p>\n
\u201cWe are proud and excited for this transaction as it affords Hopdoddy to continue to grow stronger and scale at the right pace to ensure quality and consistency in both our guest and team members experiences,\u201d Chandler said in a statement. \u201cWe are proud of where we are today and this solidifies our ability to succeed well into the future.\u201d<\/p>\n
Chandler said he is \u201cpersonally excited\u201d to hand leadership to Jett as he moves to an advisory board role and weighs other opportunities for himself in\u00a0the Austin area.<\/p>\n
Founded in Austin in 2010, Hopdoddy built a following with its specialty burgers, craft beer selection and boozy shakes. It got its start on South Congress Avenue and currently operates seven restaurants in the Austin area, with three more coming soon to Mueller, Pflugerville and Leander, according to the company website.<\/p>\n
Hopdoddy operates more than 30 restaurants in Texas and has locations in several other states, including Arizona, California, Colorado, Florida, Georgia and Louisiana.<\/p>\n","protected":false},"excerpt":{"rendered":"Austin-based\u00a0Hopdoddy Burger Bar has been acquired by Founders Table Restaurant Group, a private equity-backed restaurant platform that owns…\n","protected":false},"author":2,"featured_media":351521,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[132,134,133],"class_list":["post-351553","post","type-post","status-publish","format-standard","has-post-thumbnail","category-austin","tag-austin","tag-austin-headlines","tag-austin-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/351553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=351553"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/351553\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/351521"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=351553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=351553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=351553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}