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General News

Jun. 8, 2017

Local private equity firm set to acquire Joe's Crab Shack

Kelly Cos., a local private equity firm, has an agreement to purchase the restaurant chains Joe's Crab Shack and the Brick House Tavern + Tap from Ignite Restaurant Group.

Kelly Cos., a local private equity firm, has an agreement to purchase the restaurant chains Joe's Crab Shack and the Brick House Tavern + Tap from Ignite Restaurant Group.

To facilitate the sale, Ignite on Tuesday voluntarily filed for Chapter 11 bankruptcy in the Southern District of Texas.

Ignite anticipates the sale transaction will be completed within 60 to 90 days. Piper Jaffray & Co is being retained to conduct the sale process, and it will seek other offers from prospective...

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