Small Business Deal Advisors (“SBDA”) is pleased to announce the sale of Dickey's Barbecue Pit in Novi, MI to an individual investor.
Founded in early 2017 by Jay Roney, Dickey’s Barbecue Pit of Novi, MI is a barbecue restaurant franchise. The fast-casual restaurant offers a menu filled with classic BBQ dishes and sides. Headquartered in Dallas, TX, Dickey's Barbecue Pit is the largest barbecue chain in the United States. Dickey’s is known for its award-winning Texas-style slow-smoked meats.
In 2019, Dickey’s Barbecue Pit was recognized as the Global Franchise Award Winner in the Food and Beverage Category by the International Franchising Association. Other notable honors include being named to Fast Casual’s Top 100 Movers and Shakers list consecutively the past three years and being voted #2 on USA Today’s 2019 Best Fast Casual Restaurants Reader’s Choice List.
Mark Evans of Waterford, MI the new owner of Dickey’s Barbecue Pit of Novi, is excited to step into the franchise. As a new franchisee, Mark was seeking an established brand that has a history of industry experience and resources to help him maneuver small business ownership.
SBDA served as an M&A Advisor to Dickey's Barbecue Pit of Novi. This included providing advisory expertise and managing the preparatory, marketing, due diligence, and negotiation phases of the transaction.
Scott Nicholson, the SBDA Associate who led the transaction stated, “I'm thrilled with the outcome of the transaction. We weathered uncertainties due to Coronavirus but everyone worked steadfastly to ensure the transaction was successful. I'm very appreciative to all parties involved. Mark Evans is a great fit and I'm excited to watch the business thrive for years to come.”
The Huntington National Bank provided financing for the transaction. Special thanks to Daaron Fleeger, Vice President & Business Banking Relationship Manager at Huntington. Daaron oversaw the funding process and pulled out all the stops to make this transaction happen.
Terms of the transaction were not disclosed.