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Cedar Park-based Smokey Mo’s Texas BBQ was acquired by Austin-based Switchback Capital, LLC., a private equity firm, to expand the 21-year-old barbecue chain. The
deal was announced Jan. 13. Financial terms were not disclosed. Smokey Mo’s already has 16 locations in Central Texas, five of which are franchised.
This move will allow Smokey Mo’s to expand into more Texas markets. Switchback Capital, founded by Tim Keyes and Todd Caven, said it buys businesses
that are cash-flow positive and growth potential. Smokey Mo’s is the firm’s first formal investment.
Smokey Mo’s will open up more franchising opportunities to new operators in the coming months as the company rebrands and unveils a modern store design.
Caven said this acquisition will also modernize existing locations, not just the ones to come.
The chain has 210 corporate employees. Including the five current franchise locations, the total team member count is about 300.
— Sahar Chmais