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August 22, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

L Catterton sells stake in Punch Bowl Social to Cracker Barrel

Greenwich private equity firm L Catterton has sold its stake in the Punch Bowl Social restaurant chain to Cracker Barrel Old Country Store for an undisclosed amount.

Founded in 2012, Denver-based Punch Bowl Social adds a social gaming concept to dining out; its nearest location is in Washington, D.C.

With L Catterton’s support, the chain has more than doubled its number of units to 17 over the past two years. L Catterton also worked with Punch Bowl Social to increase its marketing initiatives, introduce an improved service model and evolve its menu and entertainment offerings.

Cracker Barrel, based in Lebanon, Tennessee, has about 650 locations around the country.