Granite City Food and Brewery

Granite City Food & Brewery Ltd. is up for a possible sale or merger. The company said on a press release that it has hired Houlihan Lokey Capital, an investment bank, to help the company with " a possible strategic transaction."

The Granite City Food and Brewery is adding restaurants to it's franchise. The company announced yesterday (Monday) they've entered into a stock purchase agreement with Concept Development Partners LLC to invest $6.5 million into the company.

Granite City Food and Brewery has a new majority owner. The restaurant announced yesterday (Tuesday) a Dallas-based private equity firm called C-I-C Partners will invest $19 million in the struggling company, and in return will own about 58% of Granite City's shares.