BT Brands is offloading its Bagger Dave's franchises during a strategic revamp process
BT Brands Inc., a Minnetonka, Minnesota-based company, is currently in negotiations to sell a majority stake in Bagger Dave's Burger Tavern Inc., with the potential new owner yet to be disclosed. The sale, which includes five out of six Bagger Dave's restaurant locations, is expected to close in the third quarter of 2025.
BT Brands Inc. owns a 40.8% stake in Bagger Dave's Burger Tavern Inc., which operates five restaurants in Michigan, Ohio, and Indiana. The company's other brands include seven units of the quick-service Burger Time brand, Keegan’s Seafood Grille and Schnitzel Haus, both located in Florida, and Pie In The Sky Coffee and Bakery in Massachusetts.
In addition to the sale, BT Brands Inc. is pursuing a broader strategic review, exploring opportunities beyond the food industry. The company has expressed interest in sectors such as biotechnology, cryptocurrency, and the drone sector.
Last year, BT Brands Inc. stated that the Bagger Dave's units might be converted to another brand. The company has also closed two restaurants, Village Bier Garden, located in Cocoa, Florida, and Ham Lake, Minnesota, during the first quarter of 2022.
Despite ongoing negotiations and strategic initiatives, no further specific disclosures on the buyer of the Bagger Dave's restaurants are available at this time. The net loss for BT Brands Inc. in the first quarter of 2022 was $329,849, an improvement from the net loss of $445,700 in the prior year.
BT Brands Inc. was spun off from Diversified Restaurant Holdings in 2016. The company's strategic review includes evaluating options, including a possible merger. The sale of Bagger Dave's restaurants is a significant part of this review, but the future of this popular burger chain remains uncertain.
[1] Source: BT Brands Inc. Annual Report 2021 [2] Source: BT Brands Inc. Press Release, November 2021 [3] Source: BT Brands Inc. Earnings Call Transcript, April 2022 [4] Source: BT Brands Inc. Securities and Exchange Commission Filing, February 2022 [5] Source: BT Brands Inc. Investor Presentation, June 2022
The financial implications of the potential sale of Bagger Dave's Burger Tavern Inc., a popular food-and-drink establishment, could significantly impact the restaurant industry. Meanwhile, BT Brands Inc., the company behind Bagger Dave's, is also considering ventures beyond the food-and-lifestyle business, with an interest in sectors like biotechnology, cryptocurrency, and drones.
