Bagger Dave's restaurants owned by BT Brands are being sold off during a strategic reevaluation process.
BT Brands Inc. Negotiates Sale of Bagger Dave's Restaurants
BT Brands Inc., a Minnetonka, Minnesota-based company, is currently in negotiations to sell five of its six Bagger Dave's restaurant locations. The potential buyer remains undisclosed, and the transaction is expected to close in the third quarter of 2025.
BT Brands, which holds a more-than 40% stake in Bagger Dave's Burger Tavern Inc., operates five Bagger Dave's restaurants in Michigan, Ohio, and Indiana. The company has been on a buying spree, acquiring various concepts in addition to its investment in Bagger Dave's.
In addition to Bagger Dave's, BT Brands Inc. owns several other restaurant brands. These include seven units of the quick-service Burger Time brand, Keegan’s Seafood Grille in Florida, Schnitzel Haus in Florida, and Pie In The Sky Coffee and Bakery in Massachusetts.
The company conducted an initial public offering in November 2021 and has been exploring opportunities in the food industry, as well as other potential industries such as biotechnology, cryptocurrency, and the drone sector. Last year, BT Brands Inc. stated that the units of Bagger Dave's might be converted to another brand.
The company's strategic review also includes the possibility of a merger. However, no details about the potential merger partner have been disclosed.
Despite the potential sale of Bagger Dave's restaurants, BT Brands Inc. has been making moves to improve its financial performance. The net loss for the company in the first quarter of 2022 was $329,849, an improvement from the net loss of $445,700 in the prior year. The company also recently closed two other restaurant locations: Village Bier Garden in Cocoa, Florida, and Ham Lake, Minnesota, during the first quarter of 2022.
[1] Source: BT Brands Inc. financial reports and press releases.
The sale of Bagger Dave's restaurant locations by BT Brands Inc., a company that holds various investments in the food-and-drink industry, might impact the lifestyle of its patrons. The company, which has recently conducted an initial public offering, is also exploring opportunities in industries beyond the restaurant business, such as biotechnology and cryptocurrency. Meanwhile, BT Brands Inc. has been working to improve its finance by reducing expenses, as evidenced by the closure of two restaurant locations and the potential sale of Bagger Dave's, despite the possibility of a merger with an undisclosed partner.
