Daily News: June 11, 2018

FirstBank Supports Corky’s Partnership with Dobbs Equity Partners


Corky’s BBQ, a Memphis BBQ legend for nearly 35 years, closed an expansion and partnership agreement with Dobbs Equity Partners, a family investment company founded by long-time Memphis businessman, John H. Dobbs, Jr.

This partnership will allow Corky’s to expand its corporate-owned brick and mortar footprint and open 15 additional stores over the next three years as well as invest and expand the Corky’s food manufacturing and distribution operations.

“Our business has grown significantly since the first restaurant opened on Poplar Avenue in 1984. However, we also know there are more opportunities to serve our great customers across the nation. While we are a family business, we have come to know and respect the Dobbs family and are confident that the individual strengths of our two long-time Memphis families combined will take Corky’s to the next level,” said Andy Woodman, co-owner of Corky’s.

Owned and operated by the Pelts and Woodman families, Corky’s has grown from one small restaurant in East Memphis to four full-service restaurants in the Memphis area, two outlets inside Memphis Kroger locations and four franchise locations outside of Memphis. In addition, Corky’s recently signed an agreement to open another 15 to 20 franchised stores over the next several years in Texas.

The Corky’s umbrella consists of the Corky’s Food Manufacturing, Prime Time Strategic Partners and Simply Delicious Catering. Corky’s Food Manufacturing manufactures and distributes Corky’s retail food products and El Terrifico Cheese Dip to Walmart, Sam’s Club, Costco, Publix, Kroger and other outlets.

Bass Berry & Sims provided legal advice to Dobbs. FirstBank provided financing for the transaction. Metronome Partners and Raymond James served as financial advisor to Corky’s, and Baker, Donelson provided legal advice to the company.