Cracker Barrel and Punch Bowl Social Enter into Strategic Relationship

Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) and Denver-based Punch Bowl Social today announced they have entered into a strategic relationship, with Cracker Barrel taking a non-controlling position in the concept. Under the terms of the agreement, Cracker Barrel will invest up to approximately $140 million to acquire its initial non-controlling stake and to provide growth capital for future development.