Friday, November 04, 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.
A Large Deal. Yesterday, FAT Brands announced a new development deal that will open 80 new franchised locations in Texas. In a partnership with Brame Holdings LLC, 40 Round Table Pizza restaurants and 40 co-branded Fatburger and Buffalo’s Express locations will open over the next 10 years, with the first opening in 2023.
Who is Brame Holdings LLC? Brame Holdings is an experienced fine dining operator located in San Antonio, Texas. The firm’s reason for the deal is to expand on the existing portfolio with the addition of fast casual/quick-service concepts. FAT Brands believes Brame has the capital and experience to quickly develop and open new Round Table Pizza and Fatburger and Buffalo’s Express locations in Texas.
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.