Movers and SHAKERS
FAT Brands Inc. (FAT)
A Rocketship of an Acquisition
FAT Brands Inc is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast casual restaurant concepts. The company provides turkey burgers, chicken Sandwiches, chicken tenders, burgers, ribs, wrap sandwiches, and others. Its brand portfolio comprises Fatburger, Buffalo's Cafe and Express, and Ponderosa and Bonanza. The company's overall footprint covers nearly 32 countries. Fatburger generates maximum revenue for the company.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Adding Johnny Rockets. Yesterday, FAT Brands announced a transformative agreement to purchase the Johnny Rockets franchise for $25 million. Founded in 1986, Johnny Rockets is a casual burger chain known for its 1950s diner style decor. The chain has over 325 locations in the U.S. and 25 countries across the globe. Closing should be in mid-September.
Impact. Johnny Rockets basically will double the size of FAT Brands, both from a unit count and from an adjusted EBITDA perspective, based on a normal operating environment. With about one-third of its locations in casinos, airports, theme parks, etc, we would expect the pandemic to have ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.