VOL. 133 | NO. 115 | Friday, June 8, 2018
Corky’s BBQ to Partner with Dobbs Equity to Fund Expansion
By Patrick Lantrip
Longtime Memphis mainstay Corky’s BBQ has announced a partnership with Dobbs Equity Partners LLC, a company founded by local businessman John H. Dobbs Jr., to further accelerate the worldwide growth of the hometown barbecue brand.
The new union will allow Corky’s to expand its corporate-owned brick-and-mortar footprint by 15 locations in the next three years and expand its food manufacturing and distribution operations.
“Our business has grown significantly since the first restaurant opened on Poplar Avenue in 1984,” Corky’s BBQ co-owner Andy Woodman said in a statement. “However, we also know there are more opportunities to serve our great customers across the nation. While we are a family business, we have come to know and respect the Dobbs family and are confident that the individual strengths of our two longtime Memphis families combined will take Corky’s to the next level.”
Founded by Don Pelts nearly 35 years ago, the Corky’s umbrella has since grown to include Corky’s Food Manufacturing, Prime Time Strategic Partners and Simply Delicious Catering.
Currently the company's brick-and-mortar presence is comprised of four full-service restaurants in the Memphis area, two outlets inside Memphis Kroger locations and four franchise locations outside of Memphis. Corky’s has also signed an agreement to open another 15 to 20 franchised stores over the next several years in Texas.
In addition to the restaurants, Corky’s Food Manufacturing manufactures and distributes Corky’s retail products and El Terrifico Cheese Dip to Walmart, Sam’s Club, Costco, Publix, Kroger and other outlets from its more than 115,000-square-foot manufacturing and distribution facility in Memphis.
“We are excited that we will be joining forces with the Corky’s family of companies,” Dobbs said in a statement. “As investors, it is so important to believe in and trust your business partners and know the quality of their products. As a Memphian, I have known Corky’s for decades and believe it is the No. 1 Memphis-style BBQ in the country. Corky’s offers a true Memphis experience and we plan to grow these products and holdings coast to coast to deliver the best taste of Memphis across America.”
Bass, Berry & Sims provided legal advice to Dobbs, while Baker Donelson represented Corky’s. Meanwhile, FirstBank provided financing for the transaction, and Metronome Partners and Raymond James served as Corky’s financial advisers.