Operations

Fat Brands completes Johnny Rockets acquisition

Provided

September 22, 2020

Los Angeles-based FAT Brands, which owns Fatburger, Hurricane Grill & Wings, Buffalo's Cafe/Express, Elevation Burger, Ponderosa Steakhouse, Bonanza Steakhouse and Yalla Mediterranean, has officially acquired Johnny Rockets, according to a company press release.

The deal, announced in August, was funded with proceeds generated from an increase in FAT's securitization facility, which has doubled from $40 million to $80 million.

With the completion of the deal, FAT Brands now has more than 700 restaurants around the globe with annual system-wide sales exceeding $700 million.

Johnny Rockets was founded in 1986 on Melrose Avenue in Los Angeles and has nearly 330 locations.