BBQ Grill Company Inc., which makes barbecue grill equipment for restaurants and bars, announced Tuesday that it had reached an agreement with the state of Florida to purchase the equipment and other business assets.
The agreement is the latest in a string of deals in Florida that could further bolster the barbecue industry in the state, where the state has been struggling to find the right balance between its fast-growing tourism industry and the needs of its struggling economy.
“This acquisition will provide us with the most competitive, technologically advanced barbecue grill products and equipment in the world,” said the company’s chairman and CEO, John K. Pyle, in a statement.
“We will be able to leverage our extensive portfolio of products and technologies to build on the strength of our products, while also enhancing the competitiveness of our business by creating an environment where our customers will continue to be proud of their barbecue.”
Pyle said that he and his company were looking for “a partner that will invest in our brand and the industry in Florida, a partner who will also take care of our state and local employees.”
The deal with the Florida Department of Agriculture is expected to close in the first quarter of 2020.
Pyles did not disclose the value of the deal.
“We look forward to having our Florida brand and our state of the art products in the hands of our customers and the communities in which we serve,” said Pyle.
“Our partnership with the Department of Agricultural will enhance the state’s ability to support its economic recovery and expand the barbecue ecosystem in the Sunshine State.”
Florida has been one of the hottest barbecue states in recent years.
The state has seen its tourism industry grow more than 30 percent annually since 2010.
The industry generated $1.7 billion in revenue in fiscal year 2019, up from $1 billion in fiscal 2016.