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FAT Brands Inc. is a leading, global, multi-brand restaurant franchising company that strategically develops, markets, and acquires restaurant concepts worldwide. The company operates Fatburger, Buffalo’s Cafe, Buffalo's Express, and the Ponderosa & Bonanza Steakhouse concepts with over 300 locations worldwide. Their in-house support teams across various departments are dedicated to helping franchisees achieve entrepreneurial success. Through strategically aligned, complimentary restaurant concepts, franchisees have the opportunity for continued growth and brand diversification.
FAT Brands Inc. is a multi-brand restaurant franchising company that develops, markets, acquires, and manages various restaurant concepts globally. The company operates as a franchisor and generates revenue by charging franchisees fees and royalties. Brands include Round Table Pizza, Fatburger, Johnny Rockets, Twin Peaks, and Elevation Burger. Most revenue is generated from the United States.
FAT Brands announces the appointment of Kenneth J. Anderson to its board of directors on October 25, 2021. Anderson brings over 35 years of financial expertise, focusing on strategic planning for high-net-worth family groups. He has experience from various roles, including CEO of Cedar Tree Capital and Director at Aspiriant. CEO Andy Wiederhorn expressed confidence in Anderson's unique skills to support FAT Brands' growth, particularly in navigating the restaurant space, which has seen significant acquisitions recently.
FAT Brands has appointed Amy V. Forrestal to its board of directors, bringing over 30 years of advisory experience in the restaurant and retail sectors. Known for her successful background in mergers and acquisitions, Forrestal previously established the Restaurant and Hospitality Group at Brookwood Associates. CEO Andy Wiederhorn highlighted her impressive track record and expects her to enhance FAT Brands' acquisition strategy. The company currently owns 15 restaurant brands and operates over 2,100 franchise units worldwide.
Hot Dog on a Stick has launched a new limited-time offer featuring Cheetos Flamin’ Hot Sticks served with Chipotle Aioli and Strawberry Mango Lemonade with Tajin. Customers can upgrade any stick item for an additional $0.99. This collaboration with Frito-Lay/PepsiCo enhances the restaurant's menu offerings, aiming to attract younger consumers. The special items will be available until January 16, 2022 and are expected to drive sales during the fall season.
LOS ANGELES, Oct. 01, 2021 – FAT Brands has completed its acquisition of the Twin Peaks restaurant chain from Garnett Station Partners for $300 million. This marks FAT Brands' entry into the polished casual dining segment, increasing its total stores to over 2,100 with annual system-wide sales of approximately $1.8 billion. The acquisition is projected to boost normalized EBITDA by $25 to $30 million. This is FAT Brands' third acquisition in 12 months, following Johnny Rockets and Global Franchise Group.
FAT Brands Inc. (NASDAQ: FAT) has announced the pricing of $250 million of its FATTP Series 2021-1 Fixed Rate Asset-Backed Notes, intended to finance the acquisition of the Twin Peaks restaurant chain. This marks FAT Brands' fifth securitization transaction, with a fixed interest rate of 8.00%. The acquisition will allow FAT Brands to enter the polished-casual dining sector and increase franchised locations for Twin Peaks. The transaction was well-received by investors, showcasing strong demand and effective execution by Jefferies.
FAT Brands has announced plans to expand its restaurant concepts in the Middle East with a total of 136 new locations across five countries, including the UAE, Saudi Arabia, Bahrain, Qatar, and Kuwait. Over the next five years, six brands will launch through a partnership with Kitopi, a cloud kitchen operator. This move follows a decade of successful brand presence in the region. CEO Andy Wiederhorn emphasized the continuing growth and popularity of FAT Brands' concepts, aiming to satisfy local appetites with diverse offerings.
FAT Brands (NASDAQ: FAT) announced it will acquire Twin Peaks, a rapidly growing casual dining chain known for its sports lodge concept, for $300 million. The acquisition aims to diversify FAT's portfolio and is expected to elevate systemwide sales from $1.4 billion to over $1.8 billion. The deal will be financed through $250 million in new securitization notes and Series B preferred stock issuance. The transaction is anticipated to close by the end of September 2021, with expected EBITDA growth of $25 to $30 million post-acquisition.
FAT Brands Inc. (NASDAQ: FAT) has announced a cash dividend of $0.13 per share for the third quarter of fiscal 2021. This dividend applies to both Class A and Class B common stock, with a payment date of September 15, 2021 for shareholders on record as of September 6, 2021. Future dividends will depend on the company's operational results and financial condition. FAT Brands, with a portfolio of 14 restaurant brands, franchises around 2,000 units globally, highlighting its strong position in the franchising market.
FAT Brands reported a significant 167% increase in total revenue to $8.3 million for Q2 2021, compared to $3.1 million in Q2 2020. The company attributes this growth to the acquisition of Johnny Rockets and recovery from COVID-19 impacts. System-wide sales rose by 201.9% year-over-year. However, the net loss widened to $5.9 million or $0.48 per share. The company completed the acquisition of Global Franchise Group for $442.5 million, expanding its portfolio to over 2,000 stores worldwide, with plans for future growth and improved EBITDA projections.
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