FAT Brands Accelerates Organic Growth in 2022 with 362 Stores Added to Development Pipeline

Rhea-AI Summary

FAT Brands Inc. reported a remarkable year of growth, opening 142 new stores in 2022 and adding 362 stores to its development pipeline across 29 states and 17 countries. The company’s concepts led the expansion, with Fatburger and Buffalo’s Express contributing 86 stores, followed by Fazoli’s with 61, and Round Table Pizza with 56. Strategic agreements included 80 stores for Fatburger in Texas and a 32-store deal for Twin Peaks in Mexico. FAT Brands aims to open 175 new locations in 2023, capitalizing on its strong franchisee interest and a robust portfolio of popular restaurant brands.

Positive

• Opened 142 new stores in 2022, demonstrating strong growth.
• Added 362 stores to the development pipeline, expanding into 29 states and 17 countries.
• Significant agreements include 80 new locations for Fatburger and Buffalo's Express in Texas.
• Plans to open approximately 175 new stores in 2023.

Negative

• None.

Global Restaurant Franchising Company Builds Upon 1,000 Unit Pipeline

LOS ANGELES, Feb. 06, 2023 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc., a leading global franchising company that owns a number of iconic restaurant brands, including Johnny Rockets, Fatburger, Round Table Pizza, Twin Peaks, Fazoli’s and 12 other concepts, announces it has experienced a historic year of growth, opening 142 new stores in 2022 and adding a total of 362 stores to its development pipeline which spans 29 states and 17 countries.

Leading the way in new store development amongst FAT Brands’ concepts was Fatburger and Buffalo’s Express with 86 stores, Fazoli’s with 61, Round Table Pizza with 56, and Twin Peaks with 50. Noteworthy franchise deals included a combined 80-store development agreement for 40 Fatburger and Buffalo’s Express locations and 40 Round Table Pizza restaurants in the state of Texas, a 32-store agreement for Twin Peaks in Mexico, and a10-store agreement for Johnny Rockets in Israel.

Other strategic deals included 10 Marble Slab Creamery locations in Egypt and a nine-store development deal for Fazoli’s in Phoenix, AZ. The record-breaking development activity by the company will also bring its iconic portfolio to highly anticipated areas, such as Fatburger arriving in Florida, Puerto Rico and Atlanta, GA, Fazoli’s landing in Louisiana and Dallas, TX, and Twin Peaks growing its presence in Chicago, IL.

“We are extremely proud of our organic growth and the performance of our team in 2022,” said Taylor Wiederhorn, Chief Development Officer of FAT Brands. “Franchisee interest was at an all-time high from both new and existing franchisees, which speaks volumes to our robust portfolio of brands that continue to deliver strong same-store sales and attract new fans around the globe. This year, we will remain focused on converting our over 1,000-unit pipeline into new stores, approximately 175 of which are set to open in 2023, along with continuing to fuel our long-term growth with additional development deals.”

For more information on FAT Brands, visit www.fatbrands.com.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings, area development agreements, and growth in same-store sales. Forward-looking statements reflect expectations of FAT Brands Inc. (“we”, “our” or the “Company”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies, including but not limited to uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

MEDIA CONTACT:
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

FAQ

How many new stores did FAT Brands open in 2022?

FAT Brands opened 142 new stores in 2022.

What is the development pipeline size of FAT Brands?

FAT Brands has added 362 stores to its development pipeline.

Which concepts led FAT Brands in new store development?

Fatburger and Buffalo's Express led with 86 stores, followed by Fazoli's with 61.

What are FAT Brands' expansion plans for 2023?

FAT Brands plans to open approximately 175 new stores in 2023.

Are there any international expansions planned by FAT Brands?

Yes, there are strategic agreements for expansions in countries like Mexico and Egypt.