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A Florida hospitality group called Pride Holdings acquired local bar Cheer Up Charlies.

The LGBTQ+ bar and stage had a rocky summer — its owners announced in August that the bar was at risk of closing due to unpaid rent and began fundraising to make up for a "very slow summer."

Founders Maggie Lea and Tamara Hoover will step down as owners as part of the acquisition, but will stay on board in "leadership positions."

According to the press release, the deal is also part of Pride Holdings' plans to expand further into Texas in the next two years. Lea also said Cheer Up Charlies could open in more major cities in Texas.

"Being a part of Pride will help us find the long-term stability and provide the financial backing we've always dreamed of," Lea said in the release. "We are thrilled to have found a team like Pride Holdings that aligns with our mission, and we also can’t wait to grow the brand all across Texas."