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.
Cadence Group, a fintech securitization platform, has successfully closed a $40 million subordinated note for FAT Brands Inc. (NASDAQ: FAT). This follows FAT's previous $40 million securitization in March, bringing the total to $80 million. Proceeds will primarily fund FAT Brands' acquisition of Johnny Rockets. Both securitizations were recorded on the Ethereum blockchain for enhanced transparency. Cadence has arranged over $155 million in notes since 2018, showcasing its commitment to innovation in the capital markets.
FAT Brands Inc. announces the opening of a new co-branded Fatburger and Buffalo’s Express restaurant in George, Washington, located near the popular The Gorge Amphitheater. This location features a drive-thru, marking its first in Washington. CEO Andy Wiederhorn expressed confidence in the site’s potential due to the brand's previous success in the state. FAT Brands operates multiple restaurant concepts globally, including Fatburger, Buffalo’s Cafe, and more, and is focused on enhancing customer access with new locations.
FAT Brands Inc. has announced the opening of its third co-branded Fatburger and Buffalo’s Express location in NEWest Singapore. The new restaurant aims to cater to the strong demand for American comfort food in the region, which has garnered a dedicated fanbase since the first opening in 2018. This expansion reflects the brand's growth strategy, further solidifying FAT Brands' presence in the international market. FAT Brands operates eight restaurant concepts worldwide and franchises over 375 units.
FAT Brands (NASDAQ: FAT) has announced its acquisition of the Johnny Rockets restaurant chain for approximately $25 million, funded through cash and securitization proceeds. The deal is expected to close in September 2020, expanding FAT Brands' portfolio to over 700 restaurants worldwide, with annual sales exceeding $700 million. Johnny Rockets, known for its 1950s diner aesthetic, operates over 325 locations globally. CEO Andy Wiederhorn emphasized the transformative nature of this acquisition, highlighting synergies with existing brands.
FAT Brands has opened a new co-branded location of Fatburger and Buffalo’s Express on the Hollywood Walk of Fame in Los Angeles. The restaurant will offer takeout, delivery, and limited outdoor dining while adhering to health guidelines. This marks the second location launched in Los Angeles in quick succession. Famous for its customizable burgers and wing offerings, the restaurant aims to cater to its loyal fan base. The location will operate seven days a week from 11:00 a.m. to 6:00 p.m.
FAT Brands (NASDAQ: FAT) is resuming its healthcare heroes initiative by providing an additional 10,000 meals to healthcare workers in Los Angeles, bringing the total to 35,000 meals since the pandemic began. This initiative, which started during the height of COVID-19, aims to support local healthcare employees who continue to work on the front lines. The Fatmobile food truck will make various stops at local hospitals to deliver these meals, emphasizing the company's commitment to the community.
FAT Brands Inc. (Nasdaq: FAT) announced a public offering of 360,000 shares of 8.25% Series B Cumulative Preferred Stock at $25 each, accompanied by five Warrants for each share, allowing purchase of common stock at $5.00. The offering aims to raise approximately $9 million before fees, with an option for underwriters to purchase an additional 54,000 shares. Proceeds will be used for general corporate purposes, acquisitions, and redeeming Series A Preferred Stock. Trading for the new shares and Warrants is set to begin on July 14, 2020, under symbols FATBP and FATBW.
FAT Brands Inc. has opened its first Texas location, a co-branded Fatburger and Buffalo’s Express, in North Richland Hills, TX, on June 1, 2020. CEO Andy Wiederhorn emphasized the continued demand for quality food despite the pandemic. The menu features customizable burgers and a variety of chicken wings with fresh ingredients. The restaurant operates daily from 11 a.m. to 10 p.m., marking a significant expansion for FAT Brands, which owns eight restaurant concepts and franchises over 375 units globally.
FAT Brands Inc. (NASDAQ: FAT) has announced plans to develop three new Fatburger and Buffalo’s Express locations in Fresno, California, over the next three years. This expansion comes as a franchisee, who currently operates one location in the region, expresses confidence in the brand’s appeal despite ongoing challenges in the restaurant industry. The existing Fresno location operates daily from 10:30 am to 9:00 pm, catering to a growing customer base.
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