Monday, September 19, 2022
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. For more information on FAT Brands, please visit www.fatbrands.com.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
NYC NDRS. We hosted FAT Brands CEO Andrew Wiederhorn and members of the management team in New York City for investor meetings last week. The tone of the meetings was positive with management highlighting the significant opportunities to grow EBITDA.
Outstanding Franchisee Conference. In late August, the Company hosted its franchisees for a conference. Reports from the meeting indicate an upbeat franchisee group, with FAT inking 150 new franchisee contracts over the three day conference, driving the backlog of new locations to over 1,000. We believe the new contracts are an indicator of the franchisee groups’ confidence in the FAT Brands model.
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.