Fazoli’s to Break Breadsticks in Utah with Five Unit Development Deal

Rhea-AI Summary

FAT Brands Inc., parent company of Fazoli's and 17 other restaurant concepts, has announced a new development agreement with franchisee Valor Acquisitions Group, to bring five Fazoli's locations to Utah over the next five years. The first unit is expected to open in Saratoga Springs in 2025, marking the brand's return to the state.

Taylor Wiederhorn, Chief Development Officer of FAT Brands, emphasized the company's commitment to strategically growing the Fazoli's brand since its acquisition in 2021, particularly in areas with loyal followings. The expansion will focus on Salt Lake and Utah Counties.

Fazoli's, founded in 1988, is known for its fast, fresh, and friendly Italian food, offering unlimited signature breadsticks and freshly prepared pasta entrees at affordable prices. The chain currently franchises and owns over 200 restaurants across 26 states, making it the largest QSR Italian chain in America.

Positive

• Expansion into Utah with 5 new Fazoli's locations over 5 years
• Strategic growth in areas with existing loyal customer base
• Fazoli's is the largest QSR Italian chain in America with over 200 restaurants

Negative

• None.

News Market Reaction – FAT

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-0.63% News Effect

On the day this news was published, FAT declined 0.63%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Fast and Fresh Italian Chain to Make Highly Anticipated Return to State with First Opening in Saratoga Springs

LOS ANGELES, Oct. 09, 2024 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. parent company of Fazoli’s, and 17 other restaurant concepts, announces a new development agreement in partnership with franchisee Valor Acquisitions Group, LLC to bring five Fazoli’s locations to Utah over the next five years, with the first unit expected to open in 2025 in Saratoga Springs.

“Since acquiring Fazoli’s in 2021, we have been committed to growing the brand strategically, in particular, fueling its return to areas with loyal followings such as Utah,” said Taylor Wiederhorn, Chief Development Officer of FAT Brands. “We look forward to bringing back our beloved breadsticks to the state with our first opening in Saratoga Springs and future openings slated throughout Salt Lake and Utah Counties.”

Since 1988, Fazoli's has been committed to serving quality Italian food, fast, fresh, and friendly. From unlimited signature breadsticks to freshly prepared pasta entrees, the chain prides itself on serving high-quality menu offerings, all at an affordable price.

For more information on Fazoli’s, visit www.fazolis.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, casual and polished casual dining restaurant concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza^®, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Native Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit http://www.fatbrands.com.

About Fazoli's: Fast. Fresh. Italian.

Fast. Fresh. Italian. Founded in 1988 in Lexington, Ky., Fazoli's franchises and owns over 200 restaurants in 26 states, making it the largest QSR Italian chain in America. Fazoli’s prides itself on serving quality Italian food, fast, fresh and friendly. Menu offerings include freshly prepared pasta entrees, sub sandwiches, salads, pizza and desserts – along with its unlimited signature breadsticks. For more information, visit www.Fazolis.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 and area development agreements. Forward-looking statements reflect expectations of FAT Brands Inc. (“we” or “our”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies. 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

How many Fazoli's locations are planned for Utah by FAT Brands?

FAT Brands has announced plans to open five Fazoli's locations in Utah over the next five years.

When and where will the first new Fazoli's location open in Utah?

The first new Fazoli's location in Utah is expected to open in Saratoga Springs in 2025.

Who is the franchisee partner for Fazoli's expansion in Utah?

The franchisee partner for Fazoli's expansion in Utah is Valor Acquisitions Group,

How many restaurant brands does FAT Brands (NASDAQ: FAT) own?

FAT Brands (NASDAQ: FAT) currently owns 18 restaurant brands.