Franchising

Mighty Quinn's Barbeque receives investment to fuel growth

Hugh Mangum, Micha Magid and Christos Gourmos opened the first Mighty Quinn's eight years ago. Provided

July 30, 2021

New York-based Mighty Quinn's Barbeque has received an investment from the investment firm, Bolt Ventures, to help it expand.

Although financial terms were not disclosed, Micha Magid, co-founder and co-CEO of Mighty Quinn's, said the investment will allow it to "accelerate growth into new markets and complement the multiple territories ready to open under its signed franchisee pipeline," according to a press release.

Christos Gourmos, co-founder and co-CEO, said the team has spent the past eights years building the brand with a foundation geared toward operating excellence and is positioned to scale.

"We're overwhelmed with gratitude to the many franchisees getting behind our young brand," he said in the release.

Mighty Quinn's opened its first restaurant in 2012 and will end next year with 13 locations along with restaurants inside Yankee Stadium and Madison Square Garden.

Additionally, the chain has a growing consumer products business featuring BBQ sauce, dry rubs and soon-to-be-launched refrigerated smoked meats. Its products are in over 50 grocery locations.

"We have been searching for a brand that was uniquely positioned with a differentiated menu that could scale. We found that with Mighty Quinn's and their excellent operating team," Tory Palmer, of Bolt Ventures, said in the release. "The brand has the opportunity to grow its corporate store base while also establishing itself in new markets as the go-to spot for consistently great barbeque. Mighty Quinn's has emerged as one of the strongest restaurant brands in the New York Metro market."