The Greene Turtle and Clark Crew BBQ Unite
June 23, 2022 // Franchising.com // COLUMBIA, Md. - The Greene Turtle Franchising Corporation created a new holding company structure – ITA Group Holdings LLC (ITA). Today, the innovative parent company announced that it has acquired Oklahoma-based Clark Crew BBQ, to add to its portfolio. Clark Crew BBQ is founded and led by Travis Clark, who has won more BBQ Grand Championships than any competitor in history over a six-year time span.
The acquisition was completed simultaneously with a recapitalization of the company, with debt provided by Sandy Spring Bank and Pelham S2K. Post transaction, ITA will own The Greene Turtle – a Maryland-based sports restaurant and bar – Clark Crew BBQ and the Founder Growth Platform (FGP), which invests in and supports promising founders and concepts. FGP has partnered with six fast-casual brands to date. ITA’s goal is to leverage the entrepreneurial energy and knowledge of the founders across all concepts in its portfolio.
This year, The Greene Turtle will build four company-owned units. In addition, ITA will build six FGP units – for a total of 10 in the year.
“For the first time in Greene Turtle’s history, we’ve completed an acquisition of a new concept and added significant immediate scale to the company,” said The Greene Turtle CEO Geo Concepcion. “We’re proud to join forces with Travis and the Clark Crew BBQ team and are excited for what’s to come from ITA’s roster of concepts."
As part of the agreement, Clark is now a partner in ITA and will serve as president of the barbecue brand, overseeing and directing all operations. Clark and Concepcion previously worked together when Concepcion served as chief operating officer of Famous Dave’s. The duo’s joint competitive spirit and desire to create something new and special in the restaurant industry led them to reunite.
“My team and I are excited to bring Clark Crew BBQ together with The Greene Turtle to become a powerhouse,” Clark said. “These are companies with a passion to succeed, win and be the best in the business."
SOURCE The Greene Turtle
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