BurgerFi® Strategically Acquires Two Franchise Restaurants in South Florida

Rhea-AI Summary

BurgerFi announces corporate expansion through the acquisition of two South Florida franchise restaurants.

Positive

• BurgerFi acquires two South Florida franchise restaurants, signaling commitment to growth.
• The acquisition adds to the brand's presence and strengthens its foundation.
• BurgerFi will now operate 27 corporate locations in Florida.
• The brand plans to reopen its flagship restaurant in New York City in December 2023.

Negative

• None.

Premium burger brand accelerates growth mode in core market

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- In a strategic move signaling its commitment to exceptional food and an enjoyable dining experience, BurgerFi International, Inc. (Nasdaq: BFI, BFIIW) (“BurgerFi” or the “Company”), announced today its corporate expansion efforts through the acquisition of two South Florida franchise restaurants with corporate operations beginning today. Located in Hallandale Beach and Miami Beach, the acquisition represents a step in the brand’s evolution and commitment to continued development in primary markets across the country.

Following his first 90 days as CEO of the Company, Carl Bachmann’s comprehensive 5-point business plan is gaining momentum, focusing on defining the portfolio. This acquisition adds another layer to the brand’s presence. With the addition of these two restaurants, the company will now operate 27 corporate locations throughout its home state of Florida. The two restaurants are located at 1955 E Hallandale Beach Blvd, Hallandale Beach, FL, and 6812 Collins Ave, Miami Beach, FL.

“By defining the BurgerFi portfolio and strengthening our foundation, we recognized an opportunity for growth in our backyard,” said Carl Bachmann, CEO of BurgerFi International. “Operating these restaurants in highly trafficked, popular tourist spots in south Florida is a strategic move to solidify our presence in core markets.”

The brand also recently announced it will be making a grand return to New York City in December 2023 with the reopening of its flagship restaurant and the unique Better Burger Lab experience. This store will join locations in Brooklyn and Long Island, as the company steps up its commitment to the vital market. Of course, our top priority across all locations remains to deliver a premium brand experience to drive customer satisfaction, resulting in stronger customer traffic.

“South Florida is a top destination for New Yorkers, and now our guests can discover BurgerFi in South Florida and go back and enjoy it year-round in Manhattan. This is a win-win for both our guests and the brand,” added Bachmann.

BurgerFi has reimagined the burger experience with its chef-driven, “better burger” concept. Guests can enjoy a variety of chef-crafted, high-quality food, including Fresh-Cut Fries, Frozen Custard Shakes, Fi'ed Chicken Tenders and Sandwiches, and 100% All-Natural Angus Beef with no steroids, antibiotics, growth hormones, chemicals, or additives. For more information about BurgerFi or to find the nearest location, visit WWW.BURGERFI.COM and download the BurgerFi app for free fries on your first order.

About BurgerFi International (Nasdaq: BFI, BFIIW)

BurgerFi is chef-founded and committed to serving fresh, all-natural and quality food at all locations, online and via first-party and third-party deliveries. BurgerFi uses 100% American Angus Beef with no steroids, antibiotics, growth hormones, chemicals or additives. BurgerFi’s menu also includes high quality Wagyu Beef Blend Burgers, Antibiotic and Cage-Free Chicken offerings, Fresh, Hand-Cut Sides, and Frozen Custard Shakes and Concretes. BurgerFi was named “The Very Best Burger” at the 2023 edition of the nationally acclaimed SOBE Wine and Food Festival, awarded #1 “Best Fast Food Burger” in USA Today’s 10 Best Readers’ Choice Awards, “Best Fast Casual Restaurant” in USA Today’s 10 Best 2023 Readers’ Choice Awards for the third consecutive year, QSR Magazine’s Breakout Brand of 2020 and Fast Casual’s Top Ten Brands for 10 consecutive years and in 2021 #1 Brand of the Year. Consumer Report’s Chain Reaction Report awarded BurgerFi an “A-Grade Angus Beef” rating in 2018. In 2021, Consumer Report praised BurgerFi for serving “no antibiotic beef” across all its restaurants for the third consecutive year. To learn more about BurgerFi or to find a full list of locations, please visit www.BurgerFi.com. Download the BurgerFi App on iOS or Android devices for rewards and ‘Like’ or follow @BurgerFi on Instagram, Facebook, Threads and X. BurgerFi® is a Registered Trademark of BurgerFi IP, LLC.

Twitter: https://twitter.com/burgerfi
Facebook: https://www.facebook.com/burgerfi
Instagram: https://instagram.com/burgerfi
Threads: https://www.threads.net/@burgerfi
TikTok: https://www.tiktok.com/@burgerfiofficial
YouTube: https://www.youtube.com/BURGERFI

View source version on businesswire.com: https://www.businesswire.com/news/home/20231017772197/en/

Media Contact:

Ink Link Marketing

Brianne Barbakoff

brianne@inklinkmarketing.com

305.333.2809

Source: BurgerFi

FAQ

What is the strategic move announced by BurgerFi?

BurgerFi announced its corporate expansion efforts through the acquisition of two South Florida franchise restaurants.

Where are the acquired restaurants located?

The acquired restaurants are located in Hallandale Beach and Miami Beach, Florida.

How many corporate locations will BurgerFi operate in Florida after the acquisition?

BurgerFi will now operate 27 corporate locations in Florida.

When will BurgerFi reopen its flagship restaurant in New York City?

BurgerFi plans to reopen its flagship restaurant in December 2023.