FAT Brands Accelerates Organic Growth in 2022 with 362 Stores Added to Development Pipeline
07 February 2023 - 1:00AM
FAT (Fresh. Authentic. Tasty.) Brands Inc., a leading global
franchising company that owns a number of iconic restaurant brands,
including Johnny Rockets, Fatburger, Round Table Pizza, Twin Peaks,
Fazoli’s and 12 other concepts, announces it has experienced a
historic year of growth, opening 142 new stores in 2022 and adding
a total of 362 stores to its development pipeline which spans 29
states and 17 countries.
Leading the way in new store development amongst
FAT Brands’ concepts was Fatburger and Buffalo’s Express with 86
stores, Fazoli’s with 61, Round Table Pizza with 56, and Twin Peaks
with 50. Noteworthy franchise deals included a combined 80-store
development agreement for 40 Fatburger and Buffalo’s Express
locations and 40 Round Table Pizza restaurants in the state of
Texas, a 32-store agreement for Twin Peaks in Mexico, and a10-store
agreement for Johnny Rockets in Israel.
Other strategic deals included 10 Marble Slab
Creamery locations in Egypt and a nine-store development deal for
Fazoli’s in Phoenix, AZ. The record-breaking development activity
by the company will also bring its iconic portfolio to highly
anticipated areas, such as Fatburger arriving in Florida, Puerto
Rico and Atlanta, GA, Fazoli’s landing in Louisiana and Dallas, TX,
and Twin Peaks growing its presence in Chicago, IL.
“We are extremely proud of our organic growth
and the performance of our team in 2022,” said Taylor Wiederhorn,
Chief Development Officer of FAT Brands.
“Franchisee interest was at an all-time high from both new and
existing franchisees, which speaks volumes to our robust portfolio
of brands that continue to deliver strong same-store sales and
attract new fans around the globe. This year, we will remain
focused on converting our over 1,000-unit pipeline into new stores,
approximately 175 of which are set to open in 2023, along with
continuing to fuel our long-term growth with additional development
deals.”
For more information on FAT Brands, visit
www.fatbrands.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, quick-service, casual dining, and polished
casual dining concepts around the world. The Company currently owns
17 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, Native
Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza
Steakhouses, and franchises and owns over 2,300 units
worldwide.
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, area development agreements, and
growth in same-store sales. Forward-looking statements reflect
expectations of FAT Brands Inc. (“we”, “our” or the “Company”)
concerning the future and are subject to significant business,
economic and competitive risks, uncertainties and contingencies,
including but not limited to uncertainties surrounding the
severity, duration and effects of the COVID-19 pandemic. 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 Brandsemandzik@fatbrands.com860-212-6509
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