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Announced

Completed

OPES completed the merger with BurgerFi in a $100m deal.

Financials

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Transaction Value£81m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA9.5x
Share Price Premium-
One Off Charge-

Tags

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Private

Friendly

Merger

Restaurants and Bars

Majority

Acquisition

Single Bidder

fast casual restaurants

United States

restaurant chain

fast food chain

budget hotel chain

casual dining

Private Equity

Completed

De-SPAC

Reverse Takeover

Synopsis

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OPES Acquisition, a special purpose acquisition company, completed the merger with BurgerFi International, a fast-casual dining restaurant chain in a $100m deal. Additionally, Lionheart Equities and Lion Point Capital, two investment firms, contributed $30m into the combined company. “BurgerFi’s position within the rapidly expanding ‘better-burger’ space combined with its technology-driven business model and highly-scalable structure makes it poised for significant shareholder value creation. We believe that BurgerFi is positioned for rapid growth. Our team is thrilled to partner with BurgerFi’s senior management to support the numerous growth initiatives underway and to drive operational excellence," Ophir Sternberg, OPES Chairman and CEO.

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