Bankrupt Razzoo’s Cajun Cafe has officially been purchased by M Crowd Restaurant Group.
The new owner, which served as the stalking horse bidder, acquired the Texas-based chain via an $18.8 million credit bid.
As part of the transaction, nine locations were shuttered, leaving Razzoo’s with 11 units—10 in Texas and one in North Carolina. This comes after the chain shut down four underperforming restaurants over 2024 and 2025.
Razzoo’s joins M Crowd’s full-service portfolio of Mi Cocina, Monkey Bar, The Mercury, Sushi at The Mercury, and Vaqueros.
“Razzoo’s has been part of the dining fabric for over 30 years, and we see enormous opportunity in both its heritage and its future,” Edgar Guevara, CEO of M Crowd, said in a statement. “This is a brand built on flavor, fun, and community. Our focus is to protect what guests love while investing in the people, food, and experiences that make Razzoo’s special.”
M Crowd hopes to “sharpen Razzoo’s culinary point of view and elevate the guest experience” while not interfering with what made the brand special in the first place. More specifically, the group wants to upgrade classic dishes like the Seafood Combo Platter and seasonal crawfish boils and update the beverage lineup to “better match the restaurant’s lively, anything-but-quiet atmosphere.”
Diana Isaacson, M Crowd’s VP of marketing, said the restaurant group wants to tell Razzoo’s story “in a way that feels authentic, current, and unmistakably Razzoo’s.”
“Guests come for the food, the fun, and the personality,” Isaacson said in a statement. “Our marketing will lean into those strengths and reconnect people with what they already love about the experience.”
It’s a new era for Razzoo’s, which declared bankruptcy in October. The brand blamed its troubles on a tough macroeconomic environment, increased competition, burdensome lease obligations, and an inability to pay off debt. According to court documents, the brand owed close to $13 million. In 2024, Razzoo’s earned $76.6 million in sales, store-level EBITDA of $9.6 million, and adjusted EBITDA of roughly $3.3 million.
Razzoo’s was founded in 1991. It expanded to 14 units by 2001, including its first out-of-state location in Concord, North Carolina. The chain reached a peak of 24 stores across Texas, North Carolina, and Oklahoma.
M Crowd began with a single Mi Cocina in 1991, founded by Michael ‘Mico’ Rodriguez, Ray and Dick Washburne, and Bob McNutt.
