A pair of growing Florida restaurant chains are merging their businesses in a multimillion-dollar deal.
BurgerFi, based out of Palm Beach, announced on Monday it is buying Anthony’s Coal Fired Pizza & Wings in a $161.3 million deal, according to a news release.
The Fort Lauderdale-based pizza chain is currently owned by L Catterton, an investment company focusing on consumer brands that has a majority stake in brands such as Birkenstock and Leslie’s pool supply as well as restaurants such as Primanti Bros. and Velvet Taco, according to its website.
The news release states Anthony’s has 61 locations, including two in Central Florida, while BurgerFi has 116 locations, 11 of which are in Central Florida.
“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, executive chairman of BurgerFi, said in a statement.
The company said it plans to expand the use of Anthony’s ghost kitchen concept, “The Roasted Wing,” which it started in November 2020, focusing on the restaurant’s wings. Anthony’s also recently debuted a smaller, “fast-causal format” of its restaurants, which BurgerFi referred to 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 news release reads.
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