Welcome to our dedicated page for FAT Brands news (Ticker: FAT), a resource for investors and traders seeking the latest updates and insights on FAT Brands stock.
FAT Brands Inc. (symbol: FAT) is a prominent global player in the restaurant franchising industry. The company specializes in developing, marketing, and acquiring diverse restaurant concepts on an international scale. With a portfolio that includes Fatburger, Buffalo’s Cafe, Buffalo's Express, and Ponderosa & Bonanza Steakhouse among others, FAT Brands operates over 300 locations worldwide.
The company's business model primarily revolves around franchising. FAT Brands generates revenue by charging franchisees initial franchise fees and ongoing royalties. Although the company generally does not own or operate the restaurant locations, it does directly own and operate some units for specific brands.
FAT Brands is dedicated to providing comprehensive support to its franchisees, thereby ensuring their success. Their in-house support teams – spanning operations, construction, purchasing, architecture & design, kitchen design, training, logistics, and marketing – bring a wealth of experience and dedication to the table. This allows franchisees to operate their businesses with a high degree of independence while still benefiting from the company's extensive resources.
The company’s strategically aligned restaurant concepts offer franchisees opportunities for sustained growth and diversification. This approach enables franchisees to develop within multiple brands and industry segments, thereby enriching their portfolio.
Some of the well-known brands under the FAT Brands umbrella include Round Table Pizza, Johnny Rockets, Twin Peaks, and Elevation Burger. The majority of FAT Brands' revenue is generated from the United States, with the rest coming from other countries.
Recent Achievements and News:
- FAT Brands Inc. has recently released its consolidated statements of operations, EBITDA, and adjusted EBITDA reconciliation.
- Notable partnerships and media engagements include representation by Erin Mandzik in media relations and investor relations.
- Ongoing projects include expansion into new geographical territories and enhancement of existing restaurant concepts.
FAT Brands Inc. continues to thrive by leveraging its multi-brand strategy and commitment to franchisee success, maintaining its position as a leading force in the global franchising market.
FAT Brands has announced a new development deal to open 10 co-branded locations of Great American Cookies and Marble Slab Creamery in Puerto Rico within five years. The first two stores are expected to launch by 2024, in partnership with Conceptos Restaurants LLC. This expansion highlights FAT Brands' commitment to growth in Puerto Rico, with additional plans for 10 new Fatburger and Buffalo’s Express locations. Established in 1977, Great American Cookies is renowned for its Original Cookie Cake and chocolate chip cookies, while Marble Slab Creamery is known for its homemade ice cream and mix-ins.
FAT Brands Inc announces the opening of its first Fatburger and Buffalo’s Express location in Orland Park, IL, through franchisee A.D.T.J. Development LLC, a partnership involving NBA stars Anthony Davis Jr., Derrick Rose, and Tim Hardaway Jr. The venture marks the start of a multi-unit expansion in Illinois, driven by local businesswomen Toi Salter and Jackie Jackson, who emphasize their commitment to bringing this beloved brand back to a region with deep ties to the athletes. The grand opening on March 13 will feature promotions for the first customers, showcasing the diverse menu including customizable burgers and chicken wings.
FAT Brands Inc. announced that its founder and CEO, Andy Wiederhorn, will transition to an outside consultant and strategic advisor role effective May 5, 2023. He will continue as a Board member and his family office will remain the controlling shareholder. An interim CEO will be appointed before this transition. The change aims to alleviate distractions from a government investigation linked to Mr. Wiederhorn, allowing management to focus on shareholder value. FAT Brands, recognized as Public Company of the Year in 2022, has grown significantly, owning 17 brands with annual systemwide sales of $2.2 billion.
FAT Brands has announced the opening of a new Fazoli’s location at Phoenix Sky Harbor International Airport, Terminal 4. This new spot features a breakfast menu unique to the location, offering items like Hot Honey Chicken and Egg Breakfast Sandwiches. Fazoli's is reentering Arizona, aiming to cater to high foot traffic at the airport and expand its reach, with plans for a street-side location in Mesa later this year. The company operates nearly 220 Fazoli’s restaurants across 27 states, making it the largest premium Italian QSR chain in America. This move is part of FAT Brands’ strategy to grow its restaurant portfolio.
FAT Brands has expanded its presence with the opening of a new Great American Cookies location in Glendale, Arizona. This is part of a larger trend as the franchise has launched over 35 new locations globally in recent months. The Glendale shop features a variety of treats including the Original Cookie Cake, fresh cookies, and brownies. Located at Tanger Outlets, it aims to cater to shoppers' sweet cravings. FAT Brands continues to grow its portfolio, owning 17 restaurant brands and over 2,300 locations worldwide, showcasing its strong market positioning.
FAT Brands reported a strong fourth quarter and 2022 financial performance, with total revenue soaring 39.9% to $103.8 million. The company opened over 140 new stores throughout the year, marking significant growth and achieving system-wide sales growth of 22.1% in Q4. However, FAT Brands faced a net loss of $70.8 million in Q4, increasing from $19.6 million in the previous year. For the fiscal year 2022, revenue jumped 242.5% to $407.2 million, yet a net loss of $126.2 million was recorded. The company aims to open another 150-175 units in 2023 while focusing on reducing its leverage ratio.
LOS ANGELES, Feb. 22, 2023 - Johnny Rockets has launched a Chicken & Waffle Sandwich, utilizing Eggo Waffles as the bun. This unique offering includes crispy chicken, bacon, and syrup between two fluffy waffles, alongside a new Iced Coffee Shake. The collaboration aims to resonate with fans of both brands and is available for a limited time until April 30. This menu innovation aligns with Johnny Rockets' commitment to fresh, classic American fare. FAT Brands, which owns Johnny Rockets, continues to expand its culinary offerings, enhancing its market presence.
FAT Brands (NASDAQ: FAT) announced a conference call set for February 22, 2023, at 5:00 PM ET to discuss its fourth quarter and fiscal year 2022 financial results. A press release with the detailed financials will be distributed prior to the call. The call will be hosted by Andy Wiederhorn, President and CEO, and Ken Kuick, CFO. Participants can join via phone or by accessing the live webcast on the company’s corporate website. FAT Brands operates 17 restaurant brands, including Fatburger and Johnny Rockets, with over 2,300 units worldwide.
FAT Brands announced the opening of Great American Cookies in the Chicago suburbs of Schaumburg and Orland Park. The new locations will offer a variety of fresh-baked cookies and Create-Your-Own Cookie Cakes. FAT Brands aims to grow its presence strategically, with confidence in these communities appreciating their homemade treats. The Schaumburg location is at Woodfield Mall, while the Orland Park location is at Orland Square Drive. Great American Cookies, founded in 1977, is known for its Original Cookie Cake and will continue to expand its reach with more than 370 locations nationwide.
DALLAS, Feb. 13, 2023 – FAT Brands announced robust growth in 2022 for Twin Peaks, opening nine new restaurants and signing four area development agreements for 26 future locations in the U.S. and one in Mexico. The brand is on track to surpass 100 locations by spring 2023, with 95 currently open. CEO Joe Hummel highlighted Twin Peaks’ achievements, including top rankings in industry awards. The company plans to introduce 18-20 new restaurants in 2023, enhance its menu offerings, and expand its marketing efforts surrounding major sports events.
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