BT Brands, Inc. acquired Substantially All of the Assets of Keegan Seafood Grille, Inc. for $1.1 million.
March 02, 2022
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BT Brands, Inc. (NasdaqCM:BTBD) agreed to acquire Substantially All of the Assets of Keegan Seafood Grille, Inc. for $1.1 million on January 7, 2022. BT Brands will acquire the assets for an aggregate purchase price of $1,150,000 of which $25,000 will be paid upon acceptance of the offer by the seller and the rest paid at closing. As part of the purchase, the company acquired the Keegan's Seafood Grille tradename, and BT Brands plan to continue to operate the property under the Keegan's Seafood Grille name. Benjamin C. Stidham of The Stidham Law Firm, LLC acted as the transaction closing attorney and escrow agent. Gerald D. Mason of Eisenband Business Brokerage Inc. acted as broker in the deal.
BT Brands, Inc. (NasdaqCM : BTBD) completed the acquisition of Substantially All of the Assets of Keegan Seafood Grille, Inc. on March 2, 2022. For the year ended December 31, 2021, Keegan Seafood Grille reported total assets of $414,914; total revenue of $3,370,740; and net income of $916,730.
BT Brands, Inc. owns and operates approximately 17 restaurants, including Seven Burger Time fast-food restaurants and one Dairy Queen franchise located in the North Central region of the United States, collectively (BTND); Bagger Daveâs Burger Tavern, Inc., a partially owned affiliate, operates six Bagger Daveâs restaurants in Michigan, Ohio, and Indiana (BDVB); Keeganâs Seafood Grille in Indian Rocks Beach, Florida; Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts, and Village Bier Garten is a German-themed restaurant, bar, and entertainment venue in Cocoa, Florida. Its Burger Time restaurants feature a variety of burgers and other affordable foods, sides, and soft drinks. Its Burger Time restaurants feature a variety of burgers and other affordable foods, sides, and soft drinks. The Companyâs Dairy Queen restaurant offers a proscribed menu consisting of burgers, chicken, sides, ice cream, other desserts, and various beverages.