Company type | Public |
---|---|
Nasdaq: FAT | |
Industry | Restaurants |
Founded | 2017 |
Headquarters | , United States |
Key people | Ken Kuick (Co-CEO) Rob Rosen (Co-CEO) Thayer D. Wiederhorn (COO) |
Revenue | US$480.5 million (2023) [1] |
US$−22.3 million (2023) [2] | |
US$−90.1 million (2023) [3] | |
Total assets | US$1.39 billion (2023) [4] |
Total equity | US$15.6 billion (2023) [5] |
Number of employees | 7,390 (December 2023) [6] |
Subsidiaries | Fatburger Marble Slab Creamery Johnny Rockets Hurricane Grill & Wings Great American Cookies Round Table Pizza Ponderosa Steakhouse Bonanza Steakhouse Buffalo's Cafe Fazoli's Hot Dog on a Stick Native Grill & Wings Twin Peaks Pretzelmaker Yalla Mediterranean Elevation Burger Smokey Bones |
Website | fatbrands |
FAT Brands Inc. is an American multi-brand restaurant operator headquartered in Beverly Hills, California.
FAT Brands began as a holding company for Fatburger in 2017, gaining a chairman in Ed Rensi. On August 13, 2020, Johnny Rockets was acquired by FAT Brands for $25 million. [7]
In July 2021, FAT purchased Global Franchise Group, [8] now owning Round Table Pizza, Hot Dog on a Stick, Great American Cookies, Pretzelmaker and Marble Slab Creamery. On September 1, 2021, FAT Brands announced that it would acquire Twin Peaks, for $300 million. [9] The acquisition was completed on October 1. [10]
In May 2022, it was announced FAT Brands had acquired the franchised chain, Nestlé Toll House Café for an undisclosed sum, and plans to convert all 86 locations to Great American Cookies locations. [11]
In September, 2023 FAT purchased Smokey Bones from Sun Capital Partners for $30 million. [12]
In 2024, Andrew Wiederhorn, ex-CEO, current controlling shareholder, and Chairman of the Board of FAT Brands, was indicted on federal criminal charges, accused of taking $47 million in shareholder loans for his personal benefit which were then never paid back, also concealing millions of dollars in reportable compensation and taxable income from the Internal Revenue Service. Former CFO Rebecca D. Hershinger was also accused of assisting Wiederhorn in the scheme. [13] The Board of Directors was never informed about the "loans", [14] Fat Brands never disclosed them as related party transactions to investors, and they were written off after the company merged with its largest shareholder, Fog Cutter Capital Group (also majority-owned by Wiederhorn), in 2020. [15] The U.S. Securities and Exchange Commission and the U.S. Attorneys Office for California had previously opened investigations into the company and Wiederhorn in 2021, [16] and Wiederhorn had resigned as CEO in 2023 as a result of the investigation, later restructuring the Board of Directors with members under his control. [13]
As of May 2022, FAT Brands own the following chains:
Alimentation Couche-Tard Inc., or simply Couche-Tard, is a Canadian multinational operator of convenience stores. The company has approximately 16,700 stores across Canada, the United States, Mexico, Ireland, Norway, Sweden, Denmark, Estonia, Latvia, Lithuania, Poland, Japan, China, and Indonesia. The company operates its corporate stores mainly under the Couche-Tard, Circle K, and On the Run brands but also under the affiliated brands Mac's Convenience Stores, go!, 7-jours, Dairy/Daisy Mart, Becker's and Winks. Operations in Russia were suspended in 2022.
Round Table Pizza is a chain and franchise of pizza parlours in the Western United States. The first Round Table Pizza restaurant was opened in 1959, and the company has over 400 restaurants. The company is headquartered in Atlanta, Georgia.
Fatburger North America Inc. is an American fast casual restaurant chain owned by FAT Brands. Its tagline is The Last Great Hamburger Stand. While it is a fast-food restaurant, the food is cooked and made to order. Some Fatburger restaurants have liquor licenses as well as "fat bars". Its franchise headquarters are in Beverly Hills, California. In addition to the United States, the chain operates in 19 other countries. The Fatburger menu is centered primarily on hamburgers, offering various sizes and numbers of patties, along with add-ons such as cheese, bacon and eggs.
Darden Restaurants, Inc. is an American multi-brand restaurant operator headquartered in Orlando, Florida. As of May 2023, the firm owns three fine dining restaurant chains: Ruth’s Chris Steak House, Eddie V's and The Capital Grille; and seven casual dining restaurant chains: Olive Garden Italian Restaurant, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Burger, Yard House and Cheddar's Scratch Kitchen. Until July 28, 2014, Darden also owned Red Lobster. Darden has more than 1,800 restaurant locations and more than 175,000 employees, making it the world's largest full-service restaurant company.
Hot Dog on a Stick is a fast food company that was founded by Dave Barham in Santa Monica, California, in 1946, and later branched out into malls and shopping centers. In 2014, the company was purchased by Global Franchise Group based in Atlanta, GA. Under GFG, the brand has opened new locations across the country and moved into the franchising space.
Casey's General Stores, Inc. is a chain of convenience stores in the Midwestern and Southern United States. The company is headquartered in Ankeny, Iowa, a suburb of Des Moines. As of October 1, 2023, Casey's had 2,500 stores in 16 states. Following 7-Eleven's purchase of Speedway, Casey's is the 3rd largest convenience store chain in the United States and the largest that is wholly American-owned. It is one of two Iowa-based Fortune 500 companies. Casey's is famous for their pizza including a breakfast pizza and a taco pizza resulting in Casey's being the fifth largest pizza chain in the U.S.
Brinker International, Inc. is an American multinational hospitality industry company that owns Chili's and Maggiano's Little Italy restaurant chains. Founded in 1975 and based in Dallas, Texas, Brinker currently owns, operates, or franchises 1,672 restaurants under the names Chili's Grill & Bar and Maggiano's Little Italy worldwide.
Ponderosa Steakhouse and Bonanza Steakhouse are a chain of buffet/steakhouse restaurants that are a part of Homestyle Dining LLC based in Plano, Texas. Its menu includes steaks, seafood, and chicken entrées, all of which come with their buffet. A lunch menu is also served.
Barbeque Integrated Inc. is an American casual dining restaurant chain owned by FAT Brands. Its franchise headquarters are in Beverly Hills, California. As of April 2023, Smokey Bones has 62 restaurants in 16 Eastern states. Under its previous owner, Smokey Bones had as many as 128 restaurants across most of the United States before it shrank to its current core area.
Andrew A. Wiederhorn is an American businessman from Portland, Oregon. He serves as the Chairman and Founder of FAT Brands Inc., a restaurant franchising company that owns 17 restaurant brands and franchises over 2,300 units worldwide. Previously, he served as CEO and President of FAT Brands from 2017 to 2023. Prior to FAT Brands, he founded and served as the Chairman and CEO of Fog Cutter Capital Group Inc., Wilshire Financial Services Group Inc. and Wilshire Credit Corporation, with a then net worth of $140 million.
Marble Slab Creamery is an American chain of ice cream shops owned by FAT Brands. Its corporate offices are in Atlanta, Georgia.
MaggieMoo's Ice Cream and Treatery is a chain of independently owned and operated franchised stores that specialize in serving ice cream and other desserts. The first MaggieMoo's opened in 1989 in Kansas City, Kansas. At its peak, the brand had 400 stores and had a goal of opening over 1,000 stores. The brand's headquarters are in unincorporated Fulton County, Georgia. When MaggieMoo's was an independent company, it had its headquarters in Columbia, Maryland. It later became a franchise brand in the portfolio of Global Franchise Group, along with Marble Slab Creamery, until 2021 after Global Franchise Group was acquired by FAT Brands.
Global Franchise Group was a brand-acquisition and management firm headquartered in Atlanta, Georgia, United States. It specialized in franchising and quick-service restaurant industries. It was founded in 2010 with the acquisition of NexCen Brands' properties and was acquired by FAT Brands in July 2021.
Pretzelmaker is a chain of independently owned and operated franchised stores that specialize in hand-rolled pretzels, smoothies and cold beverages. It is a franchise brand in the portfolio of Global Franchise Group. It has more than 280 locations in the U.S. and internationally.
Great American Cookie Co., doing business as Great American Cookies, is an American chain of independently owned and operated franchised stores that specialize in gourmet cookies, especially cookie cakes. It has over 290 stores in the U.S., particularly in the Southeast as well as Puerto Rico and Guam, most commonly located in malls. The company was founded in 1977 and has its headquarters in Atlanta. It is since 2010 a franchise brand in the portfolio of Global Franchise Group.
Archway Cookies is an American cookie manufacturer, founded in 1936 in Battle Creek, Michigan. Since December 2008, it has been a subsidiary of Lance Inc., a snack food company, which in turn merged with Snyder's of Hanover to form Snyder's-Lance. Archway is best known for its variations of oatmeal cookies.
MTY Food Group Inc. is a Canadian franchisor and operator of numerous casual dining, fast casual, and quick service restaurants operating under more than 70 brand names, some of them through wholly owned subsidiaries. Headquartered in the Montreal borough of Saint-Laurent, Quebec, the number of outlets carrying MTY brands reached 5,500 in 2017. Stanley Ma is the group founder, President and CEO. MTY Food Group's brands include Thaï Express, Country Style, Groupe Valentine, Vanelli's, Extreme Pita, Cultures, La Crémière, Sushi Shop, Veggirama, Caferama, O'burger, Tiki Ming, Vie & Nam, Au Vieux Duluth Express, FranxSupreme, ChicknChick, Croissant Plus, Koya Japan, Kim Chi, Panini, Tandori, Tutti Frutti, Villa Madina Mediterranean Cuisine, Sukiyaki, Taco Time, Yogen Früz, and the Canadian branch of TCBY.
Twin Peaks is an American chain of sports bars and restaurants based in Lewisville, Texas, which has been described as an "ultimate sports lodge" and breastaurant along with similar chains. The chain is known for having its waitresses, primarily young women and typically referred to as "Twin Peaks Girls", dress in revealing uniforms that consist of cleavage- and midriff-revealing red plaid tops, as well as khaki shorts or denim short shorts. At other times, waitresses wear revealing seasonal or themed outfits. Restaurants are decorated in the theme of a wilderness lodge and serve a mix of American, Southwest and Southern cuisines as well as alcohol. The chain's slogan is "Eats. Drinks. Scenic Views."
The Habit Burger Grill is a California-based fast casual restaurant chain that specializes in chargrilled hamburgers. The company also sells other typical fast-casual fare. It was founded in 1969 at Santa Barbara, California, and its headquarters are in Irvine, California.