The co-founder of Charlotte-based Bad Daddy’s Burger Bar says the chain has reached an agreement to be acquired by Colorado-based Good Times Restaurants Inc. for $21 million, with the purchase subject to financing.
“It’s exciting news,” Frank Scibelli said Tuesday, and it means “I’m going to be doing more stuff. I’ve got some stuff up my sleeve.”
He’s considering American comfort food as a concept, and plans to continue to grow Midwood Smokehouse. (A lease is being negotiated for a site in Columbia, he said.)
Good Times had acquired 48 percent of Bad Daddy’s about two years ago, and had an agreement to develop more Bad Daddy’s in Colorado, Oklahoma and Kansas. There are locations in Denver and Tennessee, in addition to the Triangle, Winston-Salem, Greenville, S.C., and the four Charlotte restaurants.
“They would like to grow Bad Daddy’s much larger,” said Scibelli, who founded the concept with Dennis Thompson in 2007, on East Boulevard in Dilworth.
Good Times’ president Boyd Hoback said in a statement that the restaurants’ performance since then “has confirmed our original enthusiasm.”