FAT Brands Continues Middle East Expansion with 10-Store Libya Deal

Rhea-AI Summary

FAT Brands Inc. announced a significant expansion into Libya with plans to open 10 new franchised restaurants over the next three years. This includes five co-branded Johnny Rockets and Hurricane Grill & Wings locations and five co-branded Fatburger and Buffalo's Express restaurants. Franchisee Al Majmoua Al Moutakamila will lead this initiative. This expansion follows recent growth in the UAE and surrounding countries, demonstrating FAT Brands' commitment to the Middle East. CEO Andy Wiederhorn emphasized the region's potential for quick-service restaurants.

Positive

• Expansion into Libya with 10 new franchise locations enhances growth strategy.
• First co-branded Johnny Rockets and Hurricane Grill & Wings in the region.
• Continued commitment to Middle East expansion following similar ventures in UAE and KSA.

Negative

• None.

Fatburger, Johnny Rockets, Hurricane Grill & Wings, and Buffalo’s Express Coming to Libya

LOS ANGELES, Dec. 10, 2021 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Fatburger, Johnny Rockets, and 13 other restaurant concepts, announces a new deal to enter Libya with 10 new franchised restaurants. The new stores will be made up of five co-branded Johnny Rockets and Hurricane Grill & Wings locations and five co-branded Fatburger and Buffalo’s Express restaurants, which are slated to open over the next three years.

Franchisee Al Majmoua Al Moutakamila is spearheading the 10-store deal which will also mark the first co-branded Johnny Rockets and Hurricane Grill & Wings location to date in the region. On the heels of recently announced expansion plans in United Arab Emirates, Kingdom of Saudi Arabia, Bahrain, Qatar, and Kuwait, the Libya development deal further reinforces FAT Brands’ commitment to growing in the Middle East.

“The Middle East is an important growth area for FAT Brands,” said FAT Brands CEO Andy Wiederhorn. “With a growing appreciation for quick-service restaurants in the region, we look forward to bringing our beloved burger and wing brands to Libya. Similarly, we are excited to unveil the first co-branded Johnny Rockets and Hurricane Grill & Wings location in the region. We saw tremendous success when we co-branded Fatburger and Buffalo’s Express and expect to see the same with this burger and wing pairing with locals.”

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.

About Fatburger

An all-American, Hollywood favorite, Fatburger is a fast-casual restaurant serving big, juicy, tasty burgers, crafted specifically to each customer’s liking. With a legacy spanning 70 years, Fatburger’s extraordinary quality and taste inspire fierce loyalty amongst its fan base, which includes a number of A-list celebrities and athletes. Featuring a contemporary design and ambience, Fatburger offers an unparalleled dining experience, demonstrating the same dedication to serving gourmet, homemade, custom-built burgers as it has since 1952 – The Last Great Hamburger Stand^™.

About Johnny Rockets

Founded in 1986 on Melrose Avenue in Los Angeles, Johnny Rockets is an iconic, world-renowned, hamburger restaurant franchise that offers high-quality, innovative menu items including Certified Angus Beef^® cooked-to-order hamburgers, veggie burgers, chicken sandwiches, crispy fries, and rich, delicious hand-spun shakes and malts. With over 325 locations in over 25 countries around the globe, this dynamic, lifestyle, the brand offers friendly service in an upbeat atmosphere of relaxed, casual fun. For more information, visit www.johnnyrockets.com. 

About Hurricane Grill & Wings

With almost 50 restaurants located across the United States, Florida-based Hurricane Grill & Wings^® is known for its jumbo, fresh wings, more than 35 signature sauces and rubs and tropical, laid-back vibe. Named by USA Today as one of “10 Great Places to Wing It,” selected as one of the “Future 50” by Restaurant Business and as one of Franchise Times “Top 40 Fast and Serious,” Hurricane Grill & Wings’ menu includes wings, tacos, burgers and seafood. The original Hurricane Grill & Wings opened in Fort Pierce, Fla., in 1995 and has expanded to locations throughout the United States. For more information visit www.hurricanewings.com.

About Buffalo’s Express

Founded in 1985 in Roswell, Georgia, Buffalo’s Express is a fast-casual chain known for its world-famous chicken wings and proprietary wing sauces. Co-branded with over 100 Fatburger restaurants to date, Buffalo’s Express’ significant growth can be attributed to its high-quality menu offerings and unparalleled dining experience. Featuring a contemporary design and ambiance, whether guests are dining-in or having take-out/delivery, Buffalo’s Express offers friends and families the flexibility to enjoy their world-famous chicken wings however they prefer. Buffalo’s Express – Where Everyone is Family^™. For more information, visit www.fatburger.com/buffalos-express.

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. 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

What new restaurants is FAT Brands opening in Libya?

FAT Brands is opening 10 new franchised restaurants in Libya, including five co-branded Johnny Rockets and Hurricane Grill & Wings locations and five co-branded Fatburger and Buffalo's Express restaurants.

Who is the franchisee for FAT Brands' expansion in Libya?

The franchisee for the expansion in Libya is Al Majmoua Al Moutakamila.

When will FAT Brands' new restaurants open in Libya?

The new restaurants in Libya are slated to open over the next three years.

How does FAT Brands view the Middle East market?

FAT Brands sees the Middle East as an important growth area, with an increasing appreciation for quick-service restaurants.

What is the stock symbol for FAT Brands?

The stock symbol for FAT Brands is FAT.