Tag: fat

Research News and Market Data on FAT

AUGUST 08, 2023

Company-Owned Cookie Dough Facility Now Serving Fatburger and Johnny Rockets

LOS ANGELES, Aug. 08, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Fatburger, Johnny Rockets and 15 other restaurant concepts, today announces the rollout of cookie offerings at burger portfolio restaurants nationwide – Fatburger, Johnny Rockets and Elevation Burger.

The sweet menu rollout is a strategic optimization that leverages FAT Brands’ company-owned manufacturing facility, which produces cookie dough and pretzel mix for sister portfolio brands Great American Cookies and Pretzelmaker. Elevation Burger completed its cookie roll-out earlier in April of this year.

“For both Fatburger and Johnny Rockets, we see these additions as a way to further build and enhance our dessert programs,” said Taylor Fischer, Vice President of Marketing of FAT Brands’ Fast Casual Division. “Playing into synergies is at the core of FAT Brands’ DNA. We are thrilled to be able to tap into our cookie dough facility to provide more delicious offerings for our fans.”

For more information or to find a Fatburger near you, please visit www.Fatburger.com. For more information or to find a Johnny Rockets near you, please visit www.JohnnyRockets.com.

About FAT (Fresh. Authentic. Tasty.) Brands

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.

About Fatburger

An all-American, Hollywood favorite, Fatburger is a fast-casual restaurant serving big, juicy, tasty burgers, crafted specifically to each customer’s liking. With a legacy spanning 70 years, Fatburger’s extraordinary quality and taste inspire fierce loyalty amongst its fan base, which includes a number of A-list celebrities and athletes. Featuring a contemporary design and ambience, Fatburger offers an unparalleled dining experience, demonstrating the same dedication to serving gourmet, homemade, custom-built burgers as it has since 1952 – The Last Great Hamburger Stand^™.

About Johnny Rockets

Founded in 1986 on iconic Melrose Avenue in Los Angeles, Johnny Rockets is a world-renowned, international restaurant franchise that offers high quality, innovative menu items including Certified Angus Beef^® cooked-to-order hamburgers, veggie burgers, chicken sandwiches, crispy fries and rich, delicious hand-spun shakes and malts. With over 325 locations in over 25 countries around the globe, this dynamic lifestyle brand offers friendly service and upbeat music contributing to the chain’s signature atmosphere of relaxed, casual fun. For more information, visit www.johnnyrockets.com.

MEDIA CONTACT:
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Friday, August 04, 2023

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, Managing Director, Equity Research Analyst, Generalist , 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.

2Q23 Results. FAT Brands reported 2Q23 revenue of $106.8 million, up 3.9% y-o-y from $102.8 million in the year ago quarter. System-wide sales growth was 1.7%. Same Store Sales were up 1.9%. FAT reported adjusted EBITDA of $23.1 million in the quarter, compared to $29.5 million in 2Q22. Net loss for the quarter was $7.1 million, or $0.53/sh, compared to a net loss of $9.8 million, or $0.60/sh last year. Adjusted net income for the quarter was $3.0 million, or EPS of $0.08/sh, compared to a net loss of $3.1 million, or a loss of $0.29/sh, last year. We had projected revenue of $106.8 million and a net loss of $26 million, or a loss of $1.57/sh.

Development Continues. YTD, FAT has opened 66 restaurants, including 25 in 2Q and the Company remains on track to open 175 locations in 2023. YTD, over 150 new franchise agreements have been signed, bringing the total pipeline to over 1,100 signed agreements.

Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Research News and Market Data on FAT

JULY 24, 2023

All-American Burger Chain Continues Amusement Park Growth with New San Antonio Location

LOS ANGELES, July 24, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Fatburger and 16 other restaurant concepts, announces the opening of Fatburger in San Antonio at Six Flags Fiesta Texas. This marks the sixth Fatburger in Texas to date with an additional 40-plus locations set to open in the state over the next 10 years.

“Last year, Fatburger opened its first Six Flags location at Six Flags Great Adventure in New Jersey,” said Jake Berchtold, COO of FAT Brands’ Fast Casual Division. “Since opening, the location has exceeded expectations, so we are thrilled to now be able to expand this partnership with a new restaurant at Six Flags Fiesta Texas. Parkgoers, locals and tourists alike, can now get a taste of Fatburger’s delicious, custom-built burgers in San Antonio!”

Ever since the first Fatburger opened in Los Angeles 70 years ago, the chain has been known for its delicious, grilled-to-perfection and cooked to order burgers. Founder Lovie Yancey believed that a big burger with everything on it is a meal in itself; at Fatburger “everything” is not just the usual roster of toppings. Burgers can be customized with everything from bacon and eggs to chili and onion rings. In addition to its famous burgers, the Fatburger menu also includes Fat and Skinny Fries, sweet potato fries, scratch-made onion rings, Impossible^™ Burgers, turkeyburgers, hand-breaded crispy chicken sandwiches, and hand-scooped milkshakes made from 100% real ice cream.

The new Fatburger Six Flags Fiesta Texas restaurant is located at 17000 West Interstate 10, San Antonio, TX 78257.

For more information or to find a Fatburger near you, please visit www.fatburger.com.

About FAT (Fresh. Authentic. Tasty.) Brands
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.

About Fatburger
An all-American, Hollywood favorite, Fatburger is a fast-casual restaurant serving big, juicy, tasty burgers, crafted specifically to each customer’s liking. With a legacy spanning 70 years, Fatburger’s extraordinary quality and taste inspire fierce loyalty amongst its fan base, which includes a number of A-list celebrities and athletes. Featuring a contemporary design and ambiance, Fatburger offers an unparalleled dining experience, demonstrating the same dedication to serving gourmet, homemade, custom-built burgers as it has since 1952 – The Last Great Hamburger Stand^™. For more information, visit www.fatburger.com.

About Six Flags Entertainment Corporation
Six Flags Entertainment Corporation is the world’s largest regional theme park company with 27 parks across the United States, Mexico and Canada. For nearly 62 years, Six Flags has entertained hundreds of millions of guests with world-class coasters, themed rides, thrilling water parks and unique attractions. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. For more information, visit www.sixflags.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings. Forward-looking statements reflect expectations of FAT Brands Inc. (“we”, “our” or the “Company”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies, including but not limited to uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

MEDIA C ONTACT :
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Monday, July 17, 2023

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, Managing Director, Equity Research Analyst, Generalist , 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.

Debt Raise. In an 8-K filing from late last week, FAT Brands reported the sale of an aggregate principal amount of $105.8 million of notes issued by its special purpose, wholly-owned subsidiary, FB Resid Holdings I, LLC, comprised of $52.9 million of Series 2023-1 10.00% Fixed Rate Senior Secured Notes, Class A-1 and $52.9 million of Series 2023-1 10.00% Fixed Rate Senior Subordinated Secured Notes, Class A-2. An additional $22.1 million in Class A-1 Notes and $22.1 in Class A-2 Notes were issued to a direct subsidiary of the Company and will be held pending sale to third party investors.

Cost. For both the Class A-1 Notes and A-2 Notes, the 10.00% interest rate is comprised of a 6.00% per annum nondeferrable interest portion and a 4.00% per annum deferrable interest portion. According to management, of the $105.8 million, about $60 million was used to swap out existing bonds, lowering overall required payments.

Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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. 

Research News and Market Data on FAT

JULY 13, 2023

LOS ANGELES, July 13, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT), a leading global franchising company and parent company of iconic brands including Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Fazoli’s and 11 other restaurant concepts, announced today that its Board of Directors has declared the Company’s fiscal 2023 third quarter cash dividend of $0.14 per share on each outstanding share of Class A common stock and Class B common stock. The dividend is payable on September 1, 2023 to holders of record of Class A common stock and Class B common stock as of the close of business on August 15, 2023.

The declaration and payment of future dividends, as well as the amounts thereof, are subject to the discretion of the Company’s Board of Directors. The amount and size of any future dividends will depend upon the Company’s future results of operations, financial condition, capital levels, cash requirements and other factors. There can be no assurance that the Company will declare and pay dividends in future periods.

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands Inc. (NASDAQ: FAT) (the Company) is a leading global franchising company that strategically acquires, markets and develops quick service, fast casual and casual dining restaurant concepts around the world. The Company currently owns seventeen 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, Ponderosa and Bonanza Steakhouses and franchises and owns over 2,300 units worldwide. For more information, please visit www.fatbrands.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to significant business, economic and competitive risks, uncertainties and contingencies including, but not limited to, uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks, uncertainties and contingencies. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

Investor Relations:
ICR
Michelle Michalski
IR-FATBrands@icrinc.com
646-277-1224

Media Relations:
FAT Brands Inc.
Erin Mandzik
emandzik@fatbrands.com
860-212-6509

Research News and Market Data on FAT

JUNE 22, 2023

Iconic Burger Franchise Opens New Location in Riverview, FL

LOS ANGELES, June 22, 2023 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc., parent company of Fatburger and 16 other restaurant concepts, announces Fatburger’s return to the Tampa area. Located in Riverview, FL, the new restaurant marks the first location in the state in approximately 20 years. The opening is just the start of a new wave of locations arriving in Florida for the all-American burger brand -three more locations will be opening in Tampa in the next five years, in addition to 10 locations in Orlando within the next seven years.

“We are heavily invested in growing the Fatburger brand in Florida,” said Jake Berchtold, COO of FAT Brands’ Fast Casual Division. “Making our return to the state after two decades is incredibly rewarding, especially with a committed, experienced partner like Whole Factor Inc., who will be opening 13 more units in Florida. Fans have been eagerly waiting for us and the time has finally come for them to grab their favorite burgers, fries, and milkshakes!”

Ever since the first Fatburger opened in Los Angeles 70 years ago, the chain has been known for its delicious, grilled-to-perfection and cooked to order burgers. Founder Lovie Yancey believed that a big burger with everything on it is a meal in itself; at Fatburger “everything” is not just the usual roster of toppings. Burgers can be customized with everything from bacon and eggs to chili and onion rings. In addition to its famous burgers, the Fatburger menu also includes Fat and Skinny Fries, sweet potato fries, scratch-made onion rings, Impossible^™ Burgers, turkeyburgers, hand-breaded crispy chicken sandwiches, and hand-scooped milkshakes made from 100% real ice cream.

To celebrate the new restaurant, the Riverview location will be hosting a grand opening celebration on June 24, with the first 100 customers receiving a free Original Fatburger. Additionally, fans can score a free drink with any purchase throughout the day.

The new Fatburger Riverview restaurant is located at 9950 Upper Alafia Court, Riverview, FL 33578. The location is open Sunday through Wednesday, 10 a.m. to 11 p.m., and Thursday through Saturday, 10 a.m. to 2 a.m.

For more information or to find a Fatburger near you, please visit www.fatburger.com.

About FAT (Fresh. Authentic. Tasty.) Brands

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.

About Fatburger

An all-American, Hollywood favorite, Fatburger is a fast-casual restaurant serving big, juicy, tasty burgers, crafted specifically to each customer’s liking. With a legacy spanning 70 years, Fatburger’s extraordinary quality and taste inspire fierce loyalty amongst its fan base, which includes a number of A-list celebrities and athletes. Featuring a contemporary design and ambiance, Fatburger offers an unparalleled dining experience, demonstrating the same dedication to serving gourmet, homemade, custom-built burgers as it has since 1952 – The Last Great Hamburger Stand^™. For more information, visit www.fatburger.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings. Forward-looking statements reflect expectations of FAT Brands Inc. (“we”, “our” or the “Company”) concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies, including but not limited to uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These factors are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

MEDIA C ONTACT :
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Source: FAT Brands Inc.

Research News and Market Data on FAT

 

JUNE 15, 2023

Original Cookie Cake Franchise Now Open in Anchorage

LOS ANGELES, June 15, 2023 (GLOBE NEWSWIRE) — Great American Cookies, the Original Cookie Cake franchise, announces its first location in the state of Alaska. Located in Anchorage, the new store serves as the ultimate sweet spot for locals with desserts including Custom Cookie Cakes, fresh, soft-baked cookies, brownies, and more.

“This year, Great American Cookies arrived in Arizona, New Mexico, and Illinois,” said Allison Lauenstein, President of Great American Cookies. “Growing domestically has been a key growth pillar for us so we are pleased to be able to expand our footprint to four new states, including Alaska, in just a few months. We see Anchorage as a great market to make our Alaska debut in, providing a perfect spot for family nights, birthdays, and beyond.”

Since 1977, Great American Cookies has baked up a reputation for not only being the creator of the Original Cookie Cake, but also for its famous chocolate chip cookie recipe. Other crave-able menu items include brownies and Double Doozies™, delectable icing sandwiched between two cookies.

The Anchorage Great American Cookies is located at 800 E Dimond Blvd, Suite 183, Anchorage, AK 99515, and is open Monday through Saturday, 10 a.m. to 9 p.m., and Sunday, 12 p.m. to 7 p.m.

For more information on Great American Cookies, visit www.greatamericancookies.com.

About FAT (Fresh. Authentic. Tasty.) Brands
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.

About Great American Cookies
Founded on a family chocolate chip cookie recipe in 1977, Great American Cookies believes that pure, simple delight is part of living a full life. Serving the Original Cookie Cake, fresh baked cookies in a variety of flavors, brownies, and Double Doozies™, we promise to treat you to bites of bliss that prove how sweet life can be. With more than 370 bakeries across the country and internationally in Bahrain, Guam, and Saudi Arabia, and treats available to ship right to your door, the sweet spot is always close to home. For more information, visit www.greatamericancookies.com. 

MEDIA CONTACT:
Erin Mandzik, FAT Brands
emandzik@fatbrands.com
860-212-6509

Wednesday, June 07, 2023

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, Managing Director, Equity Research Analyst, Generalist , 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.

Twin Peaks IPO. FAT Brands announced plans to pursue an initial public offering of its Twin Peaks restaurant business. Management previously had indicated the significant value creating potential of Twin Peaks for FAT Brands’ shareholders, although the timing is sooner than we had expected. FAT expects to retain a majority ownership.

The Business. Twin Peaks recently opened its 100^th location and should end the year with approximately 115 lodges, an almost 40% increase in unit count since the acquisition. The brand also has a committed development pipeline for an additional 109 franchise locations. Over the next several years, Twin Peaks plans to double its unit count to more than 200 lodges with about 80% franchised. The planned unit growth is expected to increase systemwide sales to approximately $1.0 billion. Over the next three years, Twin Peaks’ contribution to FAT Brands adjusted EBITDA should increase from $40 million to $60 million.

Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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.