Opes Acquisition Corp.’s Target BurgerFi Boosts its National Expansion

BurgerFi’s Delivery-Only Ghost Kitchens Bring Better-Burgers to Millions More

MIAMI and NORTH PALM BEACH, Fla., June 15, 2020 (GLOBE NEWSWIRE) -- Opes Acquisition Corp’s (NASDAQ: OPES) business combination target, BurgerFi International, famous for its natural angus beef burgers with no antibiotics or hormones, award-winning artisanal veggie burgers and fresh-cut fries, launched its first “ghost kitchen” in Miami, FL today. The better-burger chain with a cult-like following announced last month a multi-market licensing agreement with REEF Kitchens, the leader in the development and expansion of tech-forward neighborhood kitchens that connect people to on-demand goods and services in a sustainable and thoughtful way. The VC-backed “neighborhood kitchen” is the first of up to 15 planned kitchens for BurgerFi across the country.

This newly opened Miami locale will service all of Downtown Miami and the Brickell area. BurgerFi has two more Miami delivery-only, “ghost” kitchen locations in the pipeline with the next one set to open in Midtown Miami shortly thereafter, increasing the brand’s reach from the Midtown area to Wynwood and the Design District.

“Our team is thrilled to partner with BurgerFi’s senior management to support the numerous growth initiatives, such as ghost kitchens, which allow for a significantly greater brand footprint and the ability to test new markets,” said Ophir Sternberg, Chairman of Opes Acquisition Corp.

OPES announced last week its intent to merge with BurgerFi. OPES and BurgerFi are on track to execute the definitive agreement by the end of the month with a closing expected in the third quarter of 2020.

“BurgerFi’s rapid ascension in the ‘better-burger’ space combined with its technology-driven business model and highly-scalable structure makes it poised for significant shareholder value creation,” added Sternberg.

With off-premise sales becoming integral to the restaurant industry, BurgerFi has remained on the forefront of innovation by having significantly optimized its takeout and delivery platforms for superior performance and profitability.

By the end of the year, BurgerFi will enter many new markets with REEF’s neighborhood kitchens including Seattle, Houston, Nashville and Minneapolis. Additional markets are scheduled for 2021. In these markets, consumers will be able to enjoy BurgerFi's crave-worthy, chef-crafted menu offerings by ordering on their favorite delivery apps.