Moe’s Southwest Grill, the crown jewel of Atlanta-based parent Raving Brands, is being sold to Focus Brands, the Atlanta-based owner of Carvel Ice Cream, Schlotzsky’s, Cinnabon and international stores of Seattle’s Best Coffee.
The announcement Wednesday comes on the heels of a lawsuit by franchisees, who among other things said the chain’s management was secretly considering a sale. Raving Brands founder Martin Sprock denied that claim as recently as last week.
“We have no intention of selling out,” Sprock said in an interview last week.
Sprock said then that Raving annually looks at ways to grow the brand, including recapitalization and bringing in a partner that “could take Moe’s to the next level,” but that his company was committed to keeping Moe’s.