Tuesday, December 21, 2021

FAT Brands Inc. (FAT)
Acquisition Closings; New Store Openings

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.

Fazoli’s and Native Grill. FAT Brands has completed the acquisitions of Italian QSR Fazoli’s and wing concept Native Grill. We anticipate both concepts to see attractive growth. Fazoli’s had an outstanding year with three quarters of record setting sales in 2021, while Native Grill further complements FAT Brands’ existing wing concepts and provides FAT Brands with a larger footprint on the West Coast.


Arkansas Debut.  Earlier this month, FAT announced the opening of a new co-branded Fatburger and Buffalo’s Express in Greenbrier, Arkansas, under a deal finalized in early 2021. As we have noted in past reports, organic growth is a no cost path for incremental sales and EBITDA growth for FAT Brands …

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.