Greene Turtle Acquires Clark Crew Bbq-and a New Parent - The Greene TurtleThe Greene Turtle icon-spritesheet

The Greene Turtle

  • Locations
  • Menu
    • Shareables
    • Soup + Salad
    • Baskets + Bowls
    • Tacos
    • Handhelds
    • Burgers
    • Desserts
    • Kids
    • hidden
      • Parties & Catering
      • Allergens
      • Nutrition
  • Turtle Rewards
  • eGift Cards
  • Turtle Shop
  • Careers
  • History
    • The Company
    • Website Accommodations
    • The Mug Club Story
    • Community
    • Franchise Information
    • Contact Us
Order Online
Find Your Location
Find Your Location
Mobile Logo Order Explore Site
Find Your Location
Find Your Location
  • Home
  • Locations
  • Menu
  • Rewards
  • eGift Cards
  • Turtle Shop
  • History
    • The Company
    • Website Accommodations
    • Community
    • Contact Us
    • Franchise Info
    • The Mug Club
    • Careers
We’re committed to the safety and well-being of our team members and guests, for more information, click here!
Back to Press Share This Post
Press — June 22, 2022

Greene Turtle Acquires Clark Crew Bbq–and a New Parent

By Mikah Christian

The two brands are becoming part of a new holding company that’s looking to find young growth chains.

June 22, 2022

Written by Peter Romeo

The Greene Turtle casual-dining chain has acquired the Clark Crew BBQ full-service concept simultaneous with a refinancing that makes the brands cornerstones of a new growth-chain holding company.

The portfolio of the newly formed parent company, ITA Group Holdings LLC, also includes an investment component called the Founder Growth Program, or FGP. Its focus is on fueling the development of emerging fast-casual concepts, and currently holds a stake in seven operations.

None of the parties provided financial details of the simultaneous transactions, including what Greene Turtle paid for Clark Crew, a lone restaurant in Oklahoma City that was opened in 2019 in collaboration with the Famous Dave’s barbecue chain.  The venture was a partnership between Famous Dave’s and Travis Clark, a local master electrician who had dominated barbecue competitions throughout the southern U.S.

Famous Dave’s CEO Jeff Crivello said at the time that he had worked for two years to convince Clark to try a restaurant in his hometown. The strategy revealed by Crivello was to partner with other pit stars on one-off cathedrals of barbeque; he was emphatic that Clark Crew was unlikely to become a chain.  Clark owned a controlling interest in the restaurant, with Famous Dave’s holding a minority stake.

Greene Turtle CEO Geo Concepcion was COO of Famous Dave’s at the time and worked with Clark on the Clark Crew concept. Their prior relationship figured into Greene Turtle’s diversification, according to the announcement.

As part of the deal, Clark becomes a partner in ITA and president of its barbecue operation. The announcement suggested that other branches of Clark Crew BBQ are likely to follow.

In addition, it indicated that Clark may identify barbecue operations that fit FGP’s investment criteria.

“For the first time in Greene Turtle’s history, we’ve completed an acquisition of a new concept and added significant immediate scale to the company,” Concepcion said in a statement. “This is an incredibly important step in our company’s rapid growth and puts us in an excellent position to continue to execute on our long-term plan.

Financing for the refinancing of Greene Turtle and the formation of ITA was provided by Sandy Spring Bank and Pelham S2K.

Based in Maryland, the 46-year-old Greene Turtle chain lists 34 locations on its website.  The company says it plans to open a total of 10 units this year.

The seven concepts in which FGP has invested are Neo Pizza and Taphouse,  Madrid,  Region Ale, Cypriana, Papi’s Cuban and Caribbean Grill, CHX Premium Kitchen and Fat Patties.

Link to article: https://www.restaurantbusinessonline.com/financing/greene-turtle-acquires-clark-crew-bbq-new-parent

Our Funds for Friends Toolkit Makes Fundraising Easy

Learn More

We Salute You! 15% off Military Discount Available at Participating Locations.

See Military Discount Page
Menu Starters Burgers Handhelds House Specialties Salads Lunch Specials Desserts Drinks Daily Deals Allergens Nutrition Parties Book a Party Party Platter Menu
Locations district of columbiadelawaremarylandnew jerseynew yorkvirginiawest virginia View All Turtle Rewards My Account Register Card FAQs Terms & Conditions

Since 1976

The Greene Turtle is more than a sports bar and grille. We believe in being a community hangout for all ages, that serves great food & drinks in a fun, casual atmosphere built on the excitement & unity of sports.

Learn More
About The Company The Mug Club Story Employment Community Franchise Information Website Accommodations Turtle Store Gift Cards E-Gift Cards Store Policies Press Room Franchisee Login

Questions? Comments?

Contact Us