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. (FAT) is a global leader in multi-brand restaurant franchising, operating concepts across quick service, fast casual, and casual dining segments. This page serves as the definitive source for corporate news and official updates about the company's franchising strategies, financial performance, and brand portfolio developments.
Investors and industry professionals will find curated press releases covering earnings announcements, strategic acquisitions, leadership updates, and partnership initiatives. All content is sourced directly from FAT Brands' corporate communications to ensure accuracy and timeliness.
The news collection includes updates on franchise expansion efforts, operational support programs for licensees, and market-specific adaptations across the company's global network. Regular updates provide insights into how FAT Brands maintains its competitive position through integrated brand management and franchisor support systems.
Bookmark this page for streamlined access to essential updates about FAT Brands' business operations, financial disclosures, and corporate strategy within the restaurant franchising sector.
Garnett Station Partners has announced the sale of Twin Peaks, a sports bar franchise, to FAT Brands for $300 million. Founded in 2005 and based in Dallas, Twin Peaks has seen significant growth, including a 15% increase in unit count and a 50% rise in adjusted earnings since Garnett's investment in March 2019. The acquisition aims to leverage FAT Brands' resources to further accelerate Twin Peaks' growth trajectory.
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.
FAT Brands Inc. (NASDAQ: FAT) will hold a conference call to discuss its second quarter 2021 financial results on August 5, 2021, at 5:00 PM ET. A press release with the financial results will be issued prior to the call. Interested participants can dial 1-800-231-0316 in the U.S. or 1-314-696-0504 internationally to access the call, with a replay available until August 12, 2021. The call will be hosted by Andy Wiederhorn, CEO, and Ken Kuick, CFO.
FAT Brands operates 14 restaurant concepts globally, including Fatburger and Johnny Rockets, and franchises approximately 2,000 units.
FAT Brands has completed its acquisition of Global Franchise Group for $442.5 million, enhancing its franchised restaurant units to over 2,000 worldwide. This deal adds five brands, including Round Table Pizza and Great American Cookies, and is projected to boost annual EBITDA by approximately $40 million to $55-$60 million. Additionally, revenues could rise from $36 million to over $100 million. This marks the largest acquisition by a restaurant franchisor in 2021.
FAT Brands has signed a franchise agreement with Red Rombo Group to open 50 co-branded Fatburger and Buffalo’s Express locations in Mexico. The first three restaurants will debut in Mexico City by year-end. This expansion represents the 14th international venture for the brand, with over 70% of Fatburger locations being co-branded. CEO Andy Wiederhorn highlighted the growing fast-casual market in Mexico and expressed commitment to further global expansion. The co-branded model has successfully launched in countries like Singapore and France, enhancing the brand's international footprint.
FAT Brands Inc. has announced the pricing of its $350 million FGFG Series 2021-1 Fixed Rate Asset-Backed Notes, marking its largest securitization to date. The proceeds will finance the acquisition of Global Franchise Group from Serruya Private Equity, Inc. and Lion Capital LLP. The notes carry a 6.81% fixed interest rate.
CEO Andy Wiederhorn stated that the acquisition will enhance their strategy of integrating GFG brands and achieving combined EBITDA targets. Jefferies acted as the sole underwriter for this transaction.
FAT Brands has announced its acquisition of Global Franchise Group for $442.5 million in a mix of cash and stock. This deal brings five restaurant brands, including Round Table Pizza and Great American Cookies, into FAT's portfolio, expanding its reach to over 2,000 restaurants with system-wide sales of approximately $1.4 billion. The acquisition is expected to enhance annual EBITDA by $40 million, driven by synergies and recovery from COVID-19. The transaction is set to close by the end of July 2021, pending regulatory approval.
FAT Brands Inc. (NASDAQ: FAT, FATBP, FATBW) has successfully closed its public offering of 460,000 shares of 8.25% Series B Cumulative Preferred Stock at $20.00 per share, generating gross proceeds of $9,200,000. This includes the full exercise of the underwriter’s option for an additional 60,000 shares. The capital is intended for general corporate purposes and potential acquisitions. The offering was managed by ThinkEquity and follows a registration statement effective from June 17, 2021.