FAT Brands Inc. Completes Acquisition of Native Grill & Wings
17 Dezembro 2021 - 8:00AM
FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT
Brands” or the “Company”) today announced the completion of its
pending acquisition of Native Grill & Wings for $20 million
from Wingtime, LLC, a subsidiary of Cybeck Capital Partners, LLC.
The acquisition is expected to further increase FAT Brands’ growing
market share in the chicken wing category.
With the acquisition of Native Grill &
Wings, FAT Brands will have more than 2,300 franchised and
corporate-owned stores around the world with a combined annual
system-wide sales of approximately $2.2 billion. The Native Grill
& Wings transaction follows three other acquisitions this year:
Fazoli’s, Twin Peaks and Global Franchise Group.
“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,”
said FAT Brands CEO Andy 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.”
For FAT Brands, Foley & Lardner LLP acted as
legal counsel. For Wing Time, LLC, Taft Stettinius & Hollister
LLP acted as legal counsel.
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About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global
franchising company that strategically acquires, markets and
develops fast casual, quick-service, casual and polished casual
dining restaurant concepts around the world. The Company currently
owns 16 restaurant brands: Round Table Pizza, Fatburger, Marble
Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American
Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express,
Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Yalla
Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises
over 2,300 units worldwide. For more information on FAT Brands,
please visit www.fatbrands.com.
About Native Grill &
Wings
Based in Chandler, Arizona, Native Grill &
Wings is a family-friendly, polished sports grill with 23
franchised locations throughout Arizona, Illinois, and Texas.
Native, as the brand’s legion of fans call it, serves over 20
award-winning wing flavors that guests can order by the individual
wing, as well as an extensive menu of pizza, burgers, sandwiches,
salads and more. For more information, please
visit http://nativegrillandwings.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 ability of
Native Grill & Wings to open new stores under development, the
future financial performance and growth of the Company following
the acquisition of Native Grill & Wings, and the Company’s
ability to conduct future accretive and successful acquisitions.
Forward-looking statements reflect the Company’s expectations
concerning the future and are subject to significant business,
economic and competitive risks, uncertainties and contingencies
including, but not limited to, the Company’s ability to
successfully integrate and exploit the synergies of the acquisition
of Native Grill & Wings, the Company’s ability to grow and
expand revenues and earnings following the acquisition, and
uncertainties surrounding the severity, duration and effects of the
COVID-19 pandemic. These risks, uncertainties and contingencies 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
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 risks and uncertainties
that could cause our actual results to differ materially from our
current expectations and from the forward-looking statements
contained in this press release. 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 Brandsemandzik@fatbrands.com 860-212-6509
INVESTOR RELATIONS:Lynne Collier,
ICRIR-FATBrands@icrinc.com 646-430-2216
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