Operations

FAT Brands completes Fazoli’s acquisition

Photo by istock.com

December 16, 2021

FAT Brands Inc. has completed its acquisition of Fazoli's from Sentinel Capital Partners, marking the company's official entry into the Italian quick-service dining category.

The acquisition increases FAT Brands' footprint to about 2,300 franchised and corporate-owned stores worldwide, according to a press release. Projected 2022 systemwide sales for FAT Brands is $2.2 billion.

The $130 million purchase was announced in November.

FAT Brands has 200 stores open and a development pipeline of 100 units over the next several years.

"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," FAT Brands CEO Andy Wiederhorn said in the release. "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."

"Fazoli's has had a historic year. Our store traffic continues to soar, and our domestic development pipeline couldn't be any stronger," Carl Howard, CEO of Fazoli's, said in the release. "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."