FAT (Fresh. Authentic. Tasty.) Brands is heading into the new year with several new brands under its belt. Recently, the company announced it had completed its pending acquisition of Fazoli’s from under management by Sentinel Capital Partners for $130 million. Shortly after, the company revealed the completion of its pending acquisition of Native Grill & Wings for $20 million from Wingtime, a subsidiary of Cybeck Capital Partners.
“This has been a year of tremendous growth for FAT Brands. While we have focused on expanding our footprint and scale via strategic acquisitions, we also continue to show strong same-store sales systemwide,” said FAT Brands Chief Executive Officer Andy Wiederhorn. “Fazoli’s has had an outstanding year when it comes to brand performance with three quarters of record-setting sales. We are eager to integrate Fazoli’s into our portfolio, working with CEO Carl Howard and team to build upon this great success going into 2022.”
With over 200 stores currently open and a development pipeline of 100 units over the next several years, the purchase of Fazoli’s will increase FAT Brands’ footprint to approximately 2,300 franchised and corporate-owned stores around the world and help bring the company’s 2022 expected systemwide sales to more than $2.2 billion.
This acquisition also marks FAT Brands’ debut into the Italian quick-service dining category.
“Fazoli’s has had a historic year. Our store traffic continues to soar, and our domestic development pipeline couldn’t be any stronger,” said Howard, Chief Executive Officer of Fazoli’s. “Now a part of FAT Brands, we will look to tap into their scale and global presence to bring our delectable Italian cuisine to new markets internationally to one day take the title of largest, premium QSR Italian chain worldwide.”
News of FAT Brands completing another acquisition was close at hand as the company completed its acquisition of Native Grill & Wings. According to another release, the Native Grill & Wings transaction is the company's fourth acquisition this year.
“Chicken wings make up a key part of FAT Brands’ diverse portfolio. Prior to forming FAT Brands, Fatburger’s first acquisition was a wing brand, Buffalo’s Cafe, in 2011,” commented Wiederhorn. “We have a strong pulse on the space, having been in it for a decade now. Native Grill & Wings further complements our domestic presence, providing a larger footprint for us on the West Coast when it comes to our wing brands.”
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