Restaurants & Hospitality Acquisitions in Minnesota

Five Iron Golf has acquired Thr3 Jack, a 9,000 sq ft golf and dining venue in Minneapolis’ North Loop, and will reopen the site as its 26th location and first in Minnesota. The acquisition brings Five Iron’s Trackman simulator technology, instruction, and entertainment-forward hospitality to the former Thr3 Jack space to serve both consumer guests and corporate events.

MTY Food Group Inc. completed the acquisition of BBQ Holdings, Inc. through a merger, with each outstanding BBQ Holdings share converted into the right to receive US$17.25 in cash. As a result, BBQ Holdings became an indirect wholly-owned subsidiary of MTY and its common stock ceased trading on Nasdaq; the BBQ support center will continue to operate in Minnetonka, Minnesota.

Gala Capital, led by Anand Gala, acquired Dunn Brothers Coffee, a 59-unit, 100% franchised coffee chain founded in 1987. The deal closed in June with Gala Capital taking control July 1; Dunn Brothers' leadership, including President Kim Plahn, will remain in place as Gala plans to grow the brand via catering, third-party delivery, e-commerce and store expansion.

MCR has purchased the 229-room DoubleTree Suites by Hilton Minneapolis Downtown, located at 1101 LaSalle Avenue directly across from Target Corporation's global headquarters. The acquisition is MCR’s third hotel purchase in the Minneapolis metro in the past 12 months as the company continues to expand its presence in the market.