US multi-brand restaurant company BT Brands has revealed that it is working with an investment banker to explore strategic options, which may involve a potential merger.

The review process began in 2024 and has led to an assessment of transactions that extend beyond the company's initial concentration on the food service sector.

The company has evaluated opportunities in several fast-growing industries, including food service, restaurants, biotechnology, cryptocurrency and drone services.

There is no certainty that this strategic exploration will lead to any definitive transaction.

The company has also announced that its affiliate, Bagger Dave's Burger Tavern (BDVB), in which it holds a 40.8% stake, is in discussions to sell five of its six operating restaurant locations.

BDVB is a fast-casual dining establishment that currently operates in the US state of Michigan and Ohio.

This transaction is expected to be finalised in the third quarter of 2025 and will enable BDVB to reposition itself for future strategic initiatives, including a potential merger.

BT Brands CEO Gary Copperud stated: “Our objective is to create shareholder value by identifying opportunities that strengthen our platform and broaden our growth prospects.

“Our advisor in this process brings capital markets expertise and a track record advising companies as they evaluate strategic options. We look forward to continuing our work with their team as we pursue these opportunities.”