A pair of rising South Florida-based restaurant chains are merging their companies in a multimillion-dollar deal.
BurgerFi, headquartered in Palm Beach, introduced Monday it’s shopping for Fort Lauderdale-based Anthony’s Coal Fired Pizza & Wings in a $161.3 million deal, WKMG reported.
Anthony’s Coal Fired Pizza & Wings is at present owned by L Catterton, an funding firm specializing in client manufacturers that has a majority stake in manufacturers corresponding to Birkenstock and Leslie’s pool provide in addition to eating places corresponding to Primanti Bros. and Velvet Taco, based on its web site.
According to a information launch, Anthony’s has 61 places, whereas BurgerFi has 116 places.
“This is our first acquisition in building a premium multibrand platform. We are well positioned to continue the growth of our existing BurgerFi brand and leverage our scale to unlock value from strategic acquisitions. Our focus on premium fast-casual brands allows us to share expertise, capabilities and best practices across the board,” Ophir Sternberg, govt chairman of BurgerFi, mentioned in a press release.
The firm mentioned it plans to develop using Anthony’s ghost kitchen idea, “The Roasted Wing,” which it began in November 2020, specializing in the restaurant’s wings. Anthony’s additionally lately debuted a smaller, “fast-causal format” of its eating places, which BurgerFi known as “an additional lever for expected future growth.”
“Built in a smaller footprint to enable broader real estate opportunities and an even more streamlined operating model, this new format is anticipated to be an exciting growth avenue for both corporate and franchised expansion,” the information launch reads.
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