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FAT Brands Inc. is a global, multi-brand restaurant franchising company that strategically develops, markets, and acquires various restaurant concepts worldwide. With over 300 locations, including Fatburger, Buffalo’s Cafe, Buffalo's Express, and Ponderosa & Bonanza Steakhouse, the company's dedicated support teams assist franchisees in operations, construction, purchasing, training, and marketing to achieve entrepreneurial success. The company offers diverse restaurant concepts for franchisees to grow and expand their portfolios across different industry segments.FAT Brands reported fiscal Q3 2021 financial results, revealing total revenue of $29.8 million, up 628% from $4.1 million in Q3 2020. The company closed its third acquisition in a year, Twin Peaks, for $300 million, expanding its restaurant portfolio significantly. System-wide same-store sales grew 16.2% year-over-year, with a 7% increase in domestic locations. However, there was a net loss of $3.6 million per diluted share. The company plans to acquire Fazoli's for $130 million, expected to add $14.5-$15 million to EBITDA in 2022.
FAT Brands Inc. (NASDAQ: FAT) announced its acquisition of Fazoli’s, the largest premium QSR Italian chain in the U.S., for $130 million. This strategic move, funded through new notes from securitization facilities, is set to close by mid-December 2021. With over 200 Fazoli’s locations and a pipeline for 100 additional units, FAT Brands anticipates a significant expansion, aiming for more than $2.1 billion in system-wide sales by 2022. The acquisition is expected to boost normalized EBITDA by approximately $14.5 to $15 million in 2022.
FAT Brands Inc. (NASDAQ: FAT) will host a conference call on November 4, 2021, at 5:00 PM ET to discuss its third quarter 2021 financial results. A press release detailing these results will be issued before the call. The call can be accessed via phone or webcast. FAT Brands, which owns multiple restaurant concepts including Fatburger and Round Table Pizza, continues to expand its franchise portfolio globally.
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.
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