FAT (Fresh. Authentic. Tasty.) Brands Inc. announced in a press release today that it has finalized the acquisition of Fazoli’s from funds under management by Sentinel Capital Partners.
The acquisition totalled $130 million.
At present, Fazoli’s has over 200 stores, including one that operates locally at 538 N. McPherson Church Road in Fayetteville, and a development pipeline of 100 units over the next few years.
“Fazoli’s has had a historic year. Our store traffic continues to soar, and our domestic development pipeline couldn’t be any stronger,” said Carl Howard, CEO of Fazoli’s. “Now a part of FAT Brands, we will look to tap into their scale and global presence to bring our delectable Italian cuisine to new markets internationally to one day take the title of largest, premium QSR Italian chain worldwide.”
Currently, FAT Brands owns 2,100 franchise units worldwide, with the acquisition of Fazoli’s bumping that number up to 2,300.
“This has been a year of tremendous growth for FAT Brands. While we have focused on expanding our footprint and scale via strategic acquisitions, we also continue to show strong same-store sales systemwide,” said FAT Brands CEO Andy Wiederhorn. “Fazoli’s has had an outstanding year when it comes to brand performance with three quarters of record-setting sales. We are eager to integrate Fazoli’s into our portfolio, working with CEO Carl Howard and team to build upon this great success going into 2022.”
Other restaurant brands that FAT Brands Inc. owns include Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses.
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