finance

Financing

BurgerFi has big plans for a small-scale Anthony’s Coal Fired concept

Executives from the better burger brand, which announced a deal to purchase the casual-dining chain for $161.3 million this week, said they intend to turn a pared-down, fast-casual Anthony’s prototype into a growth vehicle.

Financing

The year (so far) in strategic restaurant acquisitions

Led by multiple deals from Fat Brands and from BBQ Holdings, concept collectors have been busy this year.

Nor did it die from simply being a buffet brand. That and other concepts run by the bankrupt Fresh Acquisitions have been dying for years. The pandemic was the last nail in the coffin, says RB’s The Bottom Line.

The newly public chain continues to innovate within its “daytime dining” framework, adding alcohol and developing a prototype designed to drive more top-line sales.

The cafeteria chain has already sold both of its restaurant brands and is still shopping its foodservice management business and remaining real estate.

SPB Hospitality has added the polished-casual concept and its four sister brands to its large portfolio.

The breakfast-and-lunch chain priced shares at $18 with trading set to begin Friday.

While sales are back up over 2019 levels, even with the latest coronavirus surge, plenty of uncertainties remain about the future, says RB’s The Bottom Line.

In its IPO filing, the 67-unit fast casual known for hot dogs and Italian beef sandwiches, said it was “well-positioned for global growth.”

The 67-unit concept said it will use the proceeds to pay off $470 million in debt. It adds its name to a growing list of restaurants who are becoming publicly traded companies.

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