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Amergent Hospitality Group Inc. (AMHG) has been invited to present at the 14th Annual LD Micro Main Event on October 14, 2021. The event takes place at the Luxe Sunset Boulevard Hotel in Los Angeles, California. CEO Mike Pruitt will present at 10:30 am EST. Attendees can register for both in-person and virtual formats at this link. Amergent operates several well-known restaurant brands, including American Burger Company and PizzaRev. For further information, visit www.amergenthg.com.
Amergent Hospitality Group Inc. (AMHG) has acquired PizzaRev, a fast casual pizza restaurant chain, through its subsidiary Pie Squared Holdings. This acquisition includes three company-owned stores and nine franchise locations. President Fred Glick emphasized the strategic significance, projecting increased revenues and enhanced operating margins. The pizza segment has outperformed the broader restaurant industry, and the company aims to leverage synergies in franchisee support and supply chain efficiencies. CEO Mike Pruitt noted the acquisition is expected to be immediately accretive, following a profitable quarter.
Amergent Hospitality Group (OTCQB:AMHG) has announced the opening of a new Little Big Burger location at the University of Oregon's Erb Memorial Union. The new outlet will feature a fast-casual concession format and is 95% complete, aiming for a swift launch aligned with the fall semester. President Fred Glick highlighted the significance of this opening following a profitable quarter. Amergent operates 36 locations, including multiple restaurant brands, and has a strong foothold in the Pacific Northwest.
Amergent Hospitality Group (AMHG) reported a profitable second quarter for 2021, with a revenue increase of 22.7% to $5.0 million. The company achieved earnings per share of $0.02 and noted a 20.1% rise in same store sales compared to Q2 2020. Notably, restaurant operating expenses decreased from 85.2% to 62.7%.
CEO Mike Pruitt highlighted plans for further acquisitions to enhance growth and efficiency. The company's loyalty program also expanded, gaining 12,000 new members, totaling over 267,000 fans.
Amergent Hospitality Group (OTCQB:AMHG) released its first quarter update for 2021, showcasing significant operational progress despite previous challenges. Key highlights include an 8.4% increase in same store sales year-over-year, with April's sales soaring 39.04%. The cost of goods sold declined to 29.6%, and total personnel expenses dropped 5.81%. The company plans to enhance growth through acquisitions of relevant, profitable restaurant brands, with multiple non-binding LOIs already issued to unlock greater value.
Amergent Hospitality Group (OTCQB:AMHG) provided a corporate update highlighting its year-end 2020 performance. Following its spin-out in April 2020, the company reduced senior secured debt by 33%. Despite operational challenges due to COVID-19, Amergent's brands are positioned for growth. Key highlights include a 9.82% increase in Same Store Sales for Little Big Burger by December 2020 compared to 2019, and off-premise sales rising from 18% to 46%. The company is pursuing acquisition opportunities to enhance its portfolio.
Amergent Hospitality Group (OTCQB:AMHG) announced on September 15, 2020, that its shares are now trading on the OTCQB market. This follows the spin-out of its restaurant assets from Chanticleer Holdings, including a reduction of 33% in its debt. The company aims to pursue an up-listing to a major exchange contingent on future acquisitions. Currently, Amergent operates 36 stores, with an increased emphasis on online orders, which have surged from 4% to over 20% of total orders. The company is actively seeking opportunities to acquire quality assets at competitive prices.