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BT Brands Acquires Founder’s Stake in Bagger Dave’s
BT Brands Acquires Founder’s Stake in Bagger Dave’s
WEST FARGO, ND / ACCESSWIRE / June 2, 2022 / BT Brands, Inc. (NASDAQ:BTBD and BTBDW), "BT Brands" operator of quick-service Burger Time restaurants, Keegan's Seafood Grille and Pie in the Sky Bakery and Coffee businesses, announced today that it had acquired 11,095,085 common shares representing 41.4% of Bagger Dave's Burger Tavern, Inc. ("Bagger Dave's") () for $1,260,000, approximately $.114 per share. Prior to completing the purchase of shares from Michael Ansley, founder and CEO of Bagger Dave's, agreed to cancel all voting preferred shares. In addition, upon closing, the current Bagger Dave's directors, including Mr. Ansley, resigned from the Company, and its Board of Directors and representatives of BT Brands are assuming those positions.
Bagger Dave's Burger Tavern, Inc. owns and operates Bagger Dave's, a casual restaurant and bar concept. Bagger Dave's provides a warm, inviting, and entertaining atmosphere through a friendly and memorable guest experience. Bagger Dave's specializes in locally sourced, never-frozen prime rib recipe burgers, all-natural lean turkey burgers, hand-cut fries, locally crafted beers on draft, milkshakes, salads, black bean turkey chili, pizza and much more all delivered in a warm atmosphere with friendly service. The concept built around providing a fresh food offering opened its first restaurant in January 2008 in Berkley, Michigan. There are currently six Bagger Dave's restaurants, including four in Michigan, one in Ft. Wayne, Indiana and one in Centerville, Ohio.
Gary Copperud, BT Brands' Chief Executive Officer, said, "Our Bagger Dave's investment allows BT Brands to immediately expand in the casual dining market with six restaurants generating a positive cash flow. At one time, Bagger Dave's had operated a total of 26 locations; the remaining six units represent a solid core that has been refined over the years. In addition, the Company has approximately $1.9 million in cash available for opportunities. We are confident that both BT Brands and the remaining Bagger Dave's shareholders will benefit from the transaction." Michael Ansley added, "the involvement of BT Brands as a shareholder assuming an active role is a positive for Bagger Dave's shareholders as our management team has worked hard to position Bagger Dave's to pursue new opportunities and now is an appropriate time and this is the focus of BT Brands."
About BT Brands, Inc.: BT Brands, Inc. (BTBD and BTBDW) owns and operates a fast-food restaurant chain called Burger Time with locations in North and South Dakota and Minnesota. The Company recently acquired Keegan Seafood Grille near Clearwater, Florida area and Pie In the Sky Coffee and Bakery in Woods Hole, Massachusetts. BT Brands is seeking acquisitions within the restaurant industry.
About Bagger Dave's Burger Tavern, Inc.: Bagger Dave's (OTC Markets Pink Sheets:BDVB) owns and operates the Bagger Dave's restaurant and bar concept. The first Bagger Dave's restaurant opened in January 2008 in Berkley, Michigan. The Company currently operates six Bagger Dave's restaurants, including four in Michigan, one in Ft. Wayne, Indiana and one in Centerville, Ohio.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of federal securities laws. The words "intend," "may," "believe," "will," "should," "anticipate," "expect," "seek," and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, which may cause the Company's actual results to differ materially from results expressed or implied by the forward-looking statements. These risks include such factors as the disruption to our business from the recent pandemic and the impact on our results of operations, financial condition, and the impact of federal, state, and local government actions and customer behavior in response to the pandemic and its aftermath, the impact and duration of staffing constraints at our restaurants, increased competition, cost increases or shortages in raw food products, and other matters discussed under the Risk Factors section of the BT Brands' Annual Report on Form 10-K for the fiscal year ended January 2, 2022, filed with the SEC, and other filings with the SEC. BT Brands disclaims any obligation or duty to update or modify these forward-looking statements.
CONTACT FOR FURTHER INFORMATION:
KENNETH BRIMMER 612-229-8811
SOURCE: BT Brands, Inc.
View source version on accesswire.com:
WEST FARGO, ND / ACCESSWIRE / June 2, 2022 / BT Brands, Inc. (NASDAQ:BTBD and BTBDW), "BT Brands" operator of quick-service Burger Time restaurants, Keegan's Seafood Grille and Pie in the Sky Bakery and Coffee businesses, announced today that it had acquired 11,095,085 common shares representing 41.4% of Bagger Dave's Burger Tavern, Inc. ("Bagger Dave's") () for $1,260,000, approximately $.114 per share. Prior to completing the purchase of shares from Michael Ansley, founder and CEO of Bagger Dave's, agreed to cancel all voting preferred shares. In addition, upon closing, the current Bagger Dave's directors, including Mr. Ansley, resigned from the Company, and its Board of Directors and representatives of BT Brands are assuming those positions.
新泽西州西法戈/2022年6月2日BT Brands,Inc.(纳斯达克股票代码:BTBD和BTBDW)今天宣布,它以1,260,000美元(约合每股0.114美元)的价格收购了11,095,085股普通股,相当于巴格戴夫汉堡酒馆(Bagger Dave‘s)41.4%的股份。BT Brands,Inc.是汉堡时代快餐店、基根海鲜烧烤店和天空烘焙咖啡业务的运营商。在完成从迈克尔·安斯利手中购买股份之前,巴格戴夫的创始人兼首席执行官同意取消所有有投票权的优先股。此外,在交易结束时,包括Ansley先生在内的现任Bagger Dave的董事从公司辞职,公司董事会和BT Brands的代表将担任这些职位。
Bagger Dave's Burger Tavern, Inc. owns and operates Bagger Dave's, a casual restaurant and bar concept. Bagger Dave's provides a warm, inviting, and entertaining atmosphere through a friendly and memorable guest experience. Bagger Dave's specializes in locally sourced, never-frozen prime rib recipe burgers, all-natural lean turkey burgers, hand-cut fries, locally crafted beers on draft, milkshakes, salads, black bean turkey chili, pizza and much more all delivered in a warm atmosphere with friendly service. The concept built around providing a fresh food offering opened its first restaurant in January 2008 in Berkley, Michigan. There are currently six Bagger Dave's restaurants, including four in Michigan, one in Ft. Wayne, Indiana and one in Centerville, Ohio.
Bagger Dave‘s Burger Tivern,Inc.拥有并经营Bagger Dave’s,这是一家休闲餐厅和酒吧概念。Bagger Dave‘s通过友好和令人难忘的客人体验,提供了温暖、邀请和娱乐的氛围。Bagger Dave‘s专营本地来源的、从未冷冻的上等肋骨汉堡、全天然瘦肉土耳其汉堡、手工切薯条、当地酿造的生啤、奶昔、沙拉、黑豆土耳其辣椒、披萨等,所有这些都在热情的氛围中提供友好的服务。这个围绕提供新鲜食物的概念于2008年1月在密歇根州伯克利开设了第一家餐厅。目前有六家Bagger Dave‘s餐厅,其中四家在密歇根州,一家在福特。印第安纳州的韦恩和俄亥俄州的森特维尔。
Gary Copperud, BT Brands' Chief Executive Officer, said, "Our Bagger Dave's investment allows BT Brands to immediately expand in the casual dining market with six restaurants generating a positive cash flow. At one time, Bagger Dave's had operated a total of 26 locations; the remaining six units represent a solid core that has been refined over the years. In addition, the Company has approximately $1.9 million in cash available for opportunities. We are confident that both BT Brands and the remaining Bagger Dave's shareholders will benefit from the transaction." Michael Ansley added, "the involvement of BT Brands as a shareholder assuming an active role is a positive for Bagger Dave's shareholders as our management team has worked hard to position Bagger Dave's to pursue new opportunities and now is an appropriate time and this is the focus of BT Brands."
BT Brands首席执行官加里·科珀鲁德表示:“我们Bagger Dave的投资使BT Brands能够立即在休闲餐饮市场扩张,6家餐厅产生了正现金流。Bagger Dave‘s一度总共经营了26家门店;其余6家餐厅代表着多年来不断完善的坚实核心。此外,公司还有大约190万美元的现金可用来创造机会。我们有信心BT Brands和Bagger Dave的其余股东都将从这笔交易中受益。”迈克尔·安斯利补充说:“BT Brands作为股东发挥积极作用,这对Bagger Dave的股东来说是一个积极的消息,因为我们的管理团队一直在努力使Bagger Dave‘s寻找新的机会,现在是合适的时机,这是BT Brands的重点。”
About BT Brands, Inc.: BT Brands, Inc. (BTBD and BTBDW) owns and operates a fast-food restaurant chain called Burger Time with locations in North and South Dakota and Minnesota. The Company recently acquired Keegan Seafood Grille near Clearwater, Florida area and Pie In the Sky Coffee and Bakery in Woods Hole, Massachusetts. BT Brands is seeking acquisitions within the restaurant industry.
关于BT Brands公司:BT Brands,Inc.拥有并经营一家名为Burger Time的快餐连锁店,在北达科他州、南达科他州和明尼苏达州都有分店。该公司最近收购了佛罗里达州克利尔沃特附近的Keegan海鲜烧烤店和马萨诸塞州伍兹霍尔的Pie in the Sky Coffee and Bakery。BT Brands正在餐饮业寻求收购。
About Bagger Dave's Burger Tavern, Inc.: Bagger Dave's (OTC Markets Pink Sheets:BDVB) owns and operates the Bagger Dave's restaurant and bar concept. The first Bagger Dave's restaurant opened in January 2008 in Berkley, Michigan. The Company currently operates six Bagger Dave's restaurants, including four in Michigan, one in Ft. Wayne, Indiana and one in Centerville, Ohio.
关于Bagger Dave‘s Burger Tivern,Inc.:Bagger Dave‘s(场外市场粉单代码:BDVB)拥有并经营Bagger Dave’s餐厅和酒吧概念。第一家Bagger Dave‘s餐厅于2008年1月在密歇根州伯克利开业。该公司目前经营着六家Bagger Dave‘s餐厅,其中四家在密歇根州,一家在福特。印第安纳州的韦恩和俄亥俄州的森特维尔。
Forward-Looking Statements Disclaimer:
前瞻性声明免责声明:
This press release contains forward-looking statements within the meaning of federal securities laws. The words "intend," "may," "believe," "will," "should," "anticipate," "expect," "seek," and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, which may cause the Company's actual results to differ materially from results expressed or implied by the forward-looking statements. These risks include such factors as the disruption to our business from the recent pandemic and the impact on our results of operations, financial condition, and the impact of federal, state, and local government actions and customer behavior in response to the pandemic and its aftermath, the impact and duration of staffing constraints at our restaurants, increased competition, cost increases or shortages in raw food products, and other matters discussed under the Risk Factors section of the BT Brands' Annual Report on Form 10-K for the fiscal year ended January 2, 2022, filed with the SEC, and other filings with the SEC. BT Brands disclaims any obligation or duty to update or modify these forward-looking statements.
本新闻稿包含符合联邦证券法的前瞻性陈述。“打算”、“可能”、“相信”、“将”、“应该”、“预期”、“期望”、“寻求”以及类似的表达方式旨在识别前瞻性陈述。这些陈述涉及已知和未知的风险,可能导致公司的实际结果与前瞻性陈述中明示或暗示的结果大不相同。这些风险包括:最近的大流行对我们业务的中断及对我们运营结果的影响、财务状况、联邦、州及地方政府针对疫情及其后果采取的行动和客户行为的影响、我们餐厅员工短缺的影响和持续时间、竞争加剧、成本增加或生食品短缺,以及在提交给美国证券交易委员会的截至2022年1月2日的10-K表格财政年度报告、以及其他提交给美国证券交易委员会的文件中在风险因素部分讨论的其他事项。BT Brands不承担更新或修改这些前瞻性陈述的任何义务或义务。
CONTACT FOR FURTHER INFORMATION:
有关更多信息,请联系:
KENNETH BRIMMER 612-229-8811
肯尼斯·布里默电话:612-229-8811
SOURCE: BT Brands, Inc.
资料来源:英国电信品牌公司
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