Dallas — Dickey’s Barbecue Pit, the world’s largest barbecue franchise, is embarking on a huge development push in the Northeast. The company has signed a multi-unit area development agreement with Chaac Foods, LLC to develop 48 Dickey’s locations in 5 years.
Chaac Foods is led by CEO and President Luis Ibarguengoytia, a veteran restaurant operator, who teamed with Gauge Capital to form Chaac Foods, which currently develops and operates Pizza Hut and Bojangles restaurants.
“We look forward to entering the barbecue category by joining forces with the world’s fastest growing barbecue franchise,” says Ibarguengoytia. “We were drawn to Dickey’s Barbecue Pit because of the flexibility offered with various operational formats, including traditional stand-alone stores, virtual locations and food trucks. We plan on opening several variations of Dickey’s, particularly in the higher rent districts. The flexibility makes this deal an attractive opportunity when seeking to develop multiple locations during a dynamic time in the restaurant industry.”
“We’re glad to have Chaac Foods join our family of brands,” says Roland Dickey Jr., CEO of Dickey’s Capital Group. “The immediate goal is to expand in the Northeast. Luis is an incredibly talented and experienced restaurant operator, so we’re proud to welcome him into the Dickey’s Franchise family.”
Based in Irving, Texas, Chaac Foods is named for the Mayan God of Rain. Since acquiring 32 restaurants in December 2019, the company has grown rapidly to include 160 stores operating in 10 states and the District of Columbia.
Gauge Capital is a leading middle market, private equity firm based in Southlake, Texas. Gauge invests in four key sectors, including: healthcare services, tech-enabled business services, government & industrial services, and food & consumer.
Dickey’s Barbecue Pit is celebrating 80 years and has over 550 locations across the United States and six other countries. Dickey’s Barbecue Pit is the fastest growing barbecue chain and is on track to have over 600 locations by the end of the year. For more information, visit www.dickeys.com.
SOURCE: Dickey’s Barbecue Pit