FAT Brands’ Quick-Service Division Continues Strong Growth Momentum, Signing Development Agreements Totaling Over 50 New Stores

Rhea-AI Summary

FAT Brands reported strong franchisee demand in its Quick-Service Division, signing 20 new development deals for over 50 units following its acquisition of Global Franchise Group in June 2021. The division includes brands like Round Table Pizza and Great American Cookies. Notably, same-store sales grew by 10.6% compared to 2019. The company is set to open over 30 locations in 2022, expanding its footprint in markets like Nashville and California.

Positive

• 20 new development deals signed, increasing over 50 units.
• Same-store sales increased by 10.6% compared to 2019.
• Over 150 units in the pipeline, with 30 locations opening in 2022.

Negative

• None.

Global Franchise Group, Now FAT Brands’ Quick-Service Division, Experiences Strong Franchisee Demand Following June 2021 Acquisition

LOS ANGELES, April 13, 2022 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Round Table Pizza, Great American Cookies, Marble Slab Creamery, and 14 other restaurant concepts, announces its Quick-Service Division has signed 20 new development deals, totaling over 50 additional units, following the acquisition of Global Franchise Group in June 2021. The acquisition marked FAT Brands’ foray into both the snack and pizza categories, adding the following brands: Round Table Pizza, Great American Cookies, Marble Slab Creamery, Hot Dog on a Stick and Pretzelmaker.

Since the formation of the Quick-Service Division, composed of the brands from the Global Franchise Group acquisition, demand has been high for new franchises, in particular, amongst existing franchisees. The Great American Cookies & Marble Slab Creamery co-branded restaurant model continues to be attractive to new and existing franchisees alike with new deals in areas including Nashville, Tenn., Houston and Shreveport, La. Round Table Pizza is also deepening its presence in California, with agreements signed for nine new locations to open throughout the state in the coming years. Additional deals were also signed for Great American Cookies, Marble Slab Creamery, Hot Dog on a Stick and Pretzelmaker. In total, there are over 150 units in the pipeline in the Quick-Service Division with over 30 locations set to open their doors in 2022.

“While the pandemic has certainly impacted the restaurant space, we are so fortunate to have a deep store pipeline in addition to solid same-store-sales growth,” said Jenn Johnston, President of FAT Brands’ Quick-Service Division. “In the fourth quarter of 2021, same-store-sales within the division were up 10.6% in comparison to 2019 and up 16.1% in comparison to 2020. Since joining FAT Brands, we have increased our scale, offered franchisees access to new services, and have formed new synergies at both the brand and corporate level.”

“The Quick-Service brands have been a strong addition to the FAT Brands portfolio,” said Taylor Wiederhorn, Chief Development Officer of FAT Brands. “In just nine months we have made incredible traction in not only integrating the brands, but also in signing new development deals. We look forward to continuing to broaden the division’s presence on a global level in the years to come.”

For more information on FAT Brands, please 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 over 2,300 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 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 developments has FAT Brands announced in 2022?

FAT Brands announced 20 new development deals for over 50 units in its Quick-Service Division.

How much have same-store sales increased for FAT Brands?

FAT Brands reported a 10.6% increase in same-store sales in the fourth quarter of 2021 compared to 2019.

Which brands are included in FAT Brands' Quick-Service Division?

The Quick-Service Division includes brands like Round Table Pizza, Great American Cookies, and Marble Slab Creamery.

How many new locations does FAT Brands plan to open in 2022?

FAT Brands plans to open over 30 new locations in 2022.

What markets will FAT Brands expand into with new units?

FAT Brands is expanding into markets like Nashville, Houston, and California.