Martha Stewart joins BurgerFi board as the new public company looks to compete with Shake Shack

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This high-end burger joint has Martha Stewart on its board, just went public, and is projecting 30% unit growth this year — here's how BurgerFi plans to use its war chest to compete against Shake Shack

, founder and CEO of Lionheart Capital, told Insider that he and Stewart"forged a friendship" after meeting a few years ago at a food festival in Florida. They both share an admiration for Friesian horses. Sternberg's favorite Friesian horse,"Bond," is currently at Stewart's farm for the winter.

But, one thing's for sure: Stewart won't likely touch the onion ring recipe, which she raved about during a recent menu sampling at a BurgerFi in New York. followers. Both Shake Shack and BurgerFi are going after large US markets, as well as international locations and airports. Other fast-casual brands like Chipotle Mexican Grill and The Habit Burger Grill have added drive-thru lanes over the years. But Ramirez is quick to note that BurgerFi beat its main better burger competitor Shake Shack when it opened its first drive-thru restaurant in Kentucky.

"In the next 30 sites that we have planned, we've peppered some drive-thru locations out there," Ramirez said."That's a very real viable option for us." REEF is selling BurgerFi's food in a handful of locations including Miami and Austin. BurgerFi recently launched a similar licensing agreement with ghost kitchen operator Epic Kitchens in Chicago.

 

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