FAT Brands Announces Chief Real Estate Officer Hire, Justin Nedelman, To Support Robust Development Pipeline

Rhea-AI Summary

FAT Brands has appointed Justin Nedelman as its first Chief Real Estate Officer. Nedelman brings extensive real estate expertise from his tenure as CEO of Eureka Restaurant Group, where he expanded the business significantly. Tasked with overseeing FAT Brands' real estate portfolio of over 2,100 restaurants, he aims to support existing franchisees and enhance growth across 15 restaurant concepts. CEO Andy Wiederhorn highlighted Nedelman's experience in retail real estate finance as pivotal for the company, which has made over $900 million in acquisitions since September 2020.

Positive

• Appointment of Justin Nedelman as Chief Real Estate Officer to drive expansion.
• Nedelman's extensive experience in real estate and brand growth enhances company strategy.
• Company's impressive acquisition record of over $900 million since September 2020.

Negative

• None.

Former CEO of Eureka Restaurant Group, LLC Brings Deep Real Estate and Development Expertise to FAT Brands

LOS ANGELES, Nov. 09, 2021 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. announces the hiring of its first Chief Real Estate Officer, Justin Nedelman. Nedelman brings significant experience from his former role as CEO of Eureka Restaurant Group, LLC (“Eureka!”), where he led the company from its inception in 2009 through rapid growth until his departure in January 2021. Overseeing the real estate of FAT Brands’ growing portfolio of over 2,100 restaurants, Nedelman will help support organic growth with existing franchisees while also spearheading further real estate expansion across the brands’ 15 concepts, identifying best-in-class, high volume locations.

A seasoned C-Suite Executive, Nedelman has an impressive track record in growing brands with a strategic focus on real estate. During his time at Eureka!, he grew the brand to 26 company-owned and operated restaurants in six states including California, Texas, Colorado, Washington, Idaho, and Nevada. Prior to Eureka!, Nedelman was a Partner at Investwest Companies, a boutique commercial real estate and fully integrated investment, development and property management company based in Los Angeles, where he negotiated retail leases and managed debt and equity financing for all developments. Before joining Investwest, Nedelman was a Senior Director at Partners Realty Capital in Newport Beach, CA, where he was a lead advisor to middle market real estate developers in commercial real estate equity and highly structured joint venture debt transactions in all asset classes.

“Justin brings significant real estate finance, leasing, acquisition and development experience to FAT Brands,” said FAT Brands CEO Andy Wiederhorn. “We are currently in high-growth mode, so Justin couldn’t have come on-board at a better time. He brings tremendous value to the team as both a retail real estate financier and former operator of a polished casual dining concept, an area we recently expanded into with the acquisition of Twin Peaks.”

“I am excited to jump on this amazing rocket ship led by CEO Andy Wiederhorn and play a role in further accelerating the growth of the brand,” says Nedelman. “FAT Brands continues to make noise in the restaurant space with over $900 million in acquisition deals since September 2020. I knew I had to be a part of this exciting trajectory.”

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

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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 and polished casual dining restaurant concepts around the world. The Company currently owns 15 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises over 2,100 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

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 future store openings and the future financial performance and growth of FAT Brands. Forward-looking statements reflect our expectations concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which 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 are filed by FAT Brands Inc. 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 statements to reflect events or circumstances occurring after the date of this press release.

MEDIA CONTACT:
Erin Mandzik, JConnelly
emandzik@jconnelly.com
862-246-9911

FAQ

Who is the new Chief Real Estate Officer of FAT Brands?

Justin Nedelman has been appointed as the Chief Real Estate Officer of FAT Brands.

What is Justin Nedelman's experience prior to joining FAT Brands?

Nedelman was the former CEO of Eureka Restaurant Group, leading significant growth and overseeing operations.

What is the significance of Nedelman's appointment for FAT Brands?

His appointment aims to support real estate expansion and enhance organic growth within FAT Brands' extensive restaurant portfolio.

What is the current number of restaurants under FAT Brands?

FAT Brands operates over 2,100 restaurants across 15 different concepts.

How much has FAT Brands spent on acquisitions since September 2020?

FAT Brands has executed over $900 million in acquisition deals since September 2020.