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Opes Acquisition Corp. shareholders agree to buy BurgerFi InternationalOpes Acquisition Corp. shareholders agree to buy BurgerFi International

Merged company to start trading as BFI on Nasdaq Thursday

Bret Thorn, Senior Food Editor

December 15, 2020

1 Min Read
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Publicly traded Opes Acquisition Corp said its proposed purchase of BurgerFi International LLC has been approved by its shareholders and that the Miami-based firm, which was established as a blank check company to acquire other companies, will be renamed BurgeFi International Inc. and trade on the Nasdaq stock market as BFI starting Dec. 17.

Warrants for the company will trade under the ticker BFIW.

The transaction is valued at around $100 million, Opes said.

This is the last stage in the merger, which was announced in June.

BurgerFi, based in North Palm Beach, Fla., has a total of 125 company-owned and franchised restaurants. It is a fast-casual “better burger” concept that prides itself on its burgers made from Angus beef that hasn’t been treated with hormones or antibiotics, its certified humane chicken that also hasn’t been treated with antibiotics (no chickens are treated with hormones), its house-made fries and its frozen custard.

The merger was approved by 99.7% of Opes stockholders.

“We are very pleased to receive such strong support from our stockholders and look forward to completing our business combination with BurgerFi,” said Ophir Sternberg, chairman & CEO of Opes. “We believe that BurgerFi has a unique value proposition with ample room for growth that will prove to be an attractive public company and provide tremendous stockholder value going forward.”

Related:BurgerFi, OPES agree to $100M deal that takes brand public

According to Nation’s Restaurant News’ Top 200 research, BurgerFi’s U.S. systemwide sales were $143.6 million for the 2019 fiscal year ended in December, up 6.1% from $135.3 million in the preceding year.

Contact Bret Thorn at [email protected] 

Follow him on Twitter: @foodwriterdiary

About the Author

Bret Thorn

Senior Food Editor, Nation's Restaurant News

Senior Food & Beverage Editor

Bret Thorn is senior food & beverage editor for Nation’s Restaurant News and Restaurant Hospitality for Informa’s Restaurants and Food Group, with responsibility for spotting and reporting on food and beverage trends across the country for both publications as well as guiding overall F&B coverage. 

He is the host of a podcast, In the Kitchen with Bret Thorn, which features interviews with chefs, food & beverage authorities and other experts in foodservice operations.

From 2005 to 2008 he also wrote the Kitchen Dish column for The New York Sun, covering restaurant openings and chefs’ career moves in New York City.

He joined Nation’s Restaurant News in 1999 after spending about five years in Thailand, where he wrote articles about business, banking and finance as well as restaurant reviews and food columns for Manager magazine and Asia Times newspaper. He joined Restaurant Hospitality’s staff in 2016 while retaining his position at NRN. 

A magna cum laude graduate of Tufts University in Medford, Mass., with a bachelor’s degree in history, and a member of Phi Beta Kappa, Thorn also studied traditional French cooking at Le Cordon Bleu Ecole de Cuisine in Paris. He spent his junior year of college in China, studying Chinese language, history and culture for a semester each at Nanjing University and Beijing University. While in Beijing, he also worked for ABC News during the protests and ultimate crackdown in and around Tiananmen Square in 1989.

Thorn’s monthly column in Nation’s Restaurant News won the 2006 Jesse H. Neal National Business Journalism Award for best staff-written editorial or opinion column.

He served as president of the International Foodservice Editorial Council, or IFEC, in 2005.

Thorn wrote the entry on comfort food in the Oxford Encyclopedia of Food and Drink in America, 2nd edition, published in 2012. He also wrote a history of plated desserts for the Oxford Companion to Sugar and Sweets, published in 2015.

He was inducted into the Disciples d’Escoffier in 2014.

A Colorado native originally from Denver, Thorn lives in Brooklyn, N.Y.

Bret Thorn’s areas of expertise include food and beverage trends in restaurants, French cuisine, the cuisines of Asia in general and Thailand in particular, restaurant operations and service trends. 

Bret Thorn’s Experience: 

Nation’s Restaurant News, food & beverage editor, 1999-Present
New York Sun, columnist, 2005-2008 
Asia Times, sub editor, 1995-1997
Manager magazine, senior editor and restaurant critic, 1992-1997
ABC News, runner, May-July, 1989

Education:
Tufts University, BA in history, 1990
Peking University, studied Chinese language, spring, 1989
Nanjing University, studied Chinese language and culture, fall, 1988 
Le Cordon Bleu Ecole de Cuisine, Cértificat Elémentaire, 1986

Email: [email protected]

Social Media:
LinkedIn: https://www.linkedin.com/in/bret-thorn-468b663/
Facebook: https://www.facebook.com/bret.thorn.52
Twitter: @foodwriterdiary
Instagram: @foodwriterdiary

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