M&A Deal Summary

BurgerFi Acquires Anthony s

On October 11, 2021, BurgerFi acquired restaurant Anthony s from Quilvest Capital Partners and L Catterton Partners for 161M USD

Acquisition Highlights
  • This is BurgerFi’s 1st transaction in the Restaurants sector.
  • This is BurgerFi’s largest (disclosed) transaction.
  • This is BurgerFi’s 1st transaction in the United States.
  • This is BurgerFi’s 1st transaction in Florida.

M&A Deal Summary
Date 2021-10-11
Target Anthony s
Sector Restaurants
Buyer(s) BurgerFi
Sellers(s) Quilvest Capital Partners
L Catterton Partners
Deal Type Add-on Acquisition
Deal Value 161M USD

Target

Anthony s

Fort Lauderdale, Florida, United States
Anthony’s is a casual dining pizza and wing brand that currently operates 61 company-owned restaurant locations along the east coast, with a strong presence in Florida (28 units), Pennsylvania (12 units), and New Jersey (8 units). Anthony's was founded in 2002 and is based in Fort Lauderdale, Florida.

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Buyer(S) 1

Buyer

BurgerFi

Fort Lauderdale, Florida, United States
Category Company
Founded 2011
Sector Restaurants
Employees1,015
Revenue 170M USD (2023)
DESCRIPTION

BurgerFi is the nation's fastest-growing better burger concept with 116 BurgerFi restaurants domestically and internationally. BurgerFi uses 100% American Angus beef with no steroids, antibiotics, growth hormones, chemicals, or additives. BurgerFi was founded in 2011 and is based in North Palm Beach, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Restaurants) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 2

SELLER

Quilvest Capital Partners

Paris, France

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1972
PE ASSETS 6.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Quilvest Capital Partners is the private equity investment arm of asset management firm Quilvest. Quilvest Capital Partners invests in private equity and debt funds as well as makes direct investments. The direct investment group looks for opportunities in the US, Europe, and 'opportunistically' in Asia with a preference for buyout, growth capital, and venture transactions. Quilvest Capital Partners will consider both minority and majority positions. Quilvest Capital Partners was established in 1972 and is based Paris.

DEAL STATS #
Overall 65 of 68
Sector (Restaurants) 5 of 5
Type (Add-on Acquisition) 26 of 27
State (Florida) 5 of 5
Country (United States) 33 of 34
Year (2021) 2 of 4
Size (of disclosed) 16 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-21 BT Blue

Châteaubourg, France

Blue is a French B2B alternative telecom operator founded in 2006. It offers subscription-based, turnkey telecommunication and IT services to SMEs. Services are rendered with top-notch infrastructures, including a fully-certified data center at Blue’s headquarters.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-03 Eudonet

Courbevoie, France

Eudonet is a developer of CRM software serving 1,200 customers and 53,000 users, across France, the Netherlands, the UK, Belgium, Switzerland, and Canada. Eudonet is a CRM provider for associations, local authorities, and higher education by developing products with a large set of pre-configured functionalities targeting specific customer needs. Eudonet was founded in 2000 and is based in Courbevoie, France.

Sell -
SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 83 of 95
Sector (Restaurants) 11 of 13
Type (Add-on Acquisition) 36 of 42
State (Florida) 4 of 4
Country (United States) 62 of 72
Year (2021) 11 of 15
Size (of disclosed) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 MERIT

West Hollywood, California, United States

MERIT provides beauty products, created to reimagine luxury beauty by making it clean and accessible, providing a beautiful brand experience through its curated offering of well-edited essentials. MERIT creates products that are safe for body, skin, and planet. MERIT is based in West Hollywood, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-13 ClassPass

New York, New York, United States

ClassPass connects members to a variety of fitness experiences, including yoga, cycling, pilates, barre, running, strength training, dance, sports, videos, and more with over 10,000 partners in 50 cities worldwide. ClassPass was formed in 2013 and is based in New York City.

Sell -
Mergr

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