FAT Brands is finishing Q2 with increased revenue and plans to open hundreds of stores across the country.
The company, which acquired eight new restaurant concepts in 2021—recorded $102.8 million in total revenue for the quarter. FAT Brands now boasts roughly 2,350 total restaurants and 760 different franchisees.
According to president and CEO Andy Wiederhorn, FAT Brands has over 900 restaurant commitments signed and paid for in the pipeline, representing 38 percent unit growth.
So far, the company opened 26 restaurants in Q2 and 62 this year. The goal is to reach about 110–120 new openings by the end of the calendar, Wiederhorn said.
“As we integrate the eight new restaurant concepts that we acquired in 2021 within the FAT Brands portfolio, we are seeing robust demand from our existing and new franchise partners to add a variety of our brands to their portfolio of restaurants,” he said. “In fact, we have over 325 multi-iunit franchisees at the end of Q2.”
Twin Peaks, which the company acquired in 2021, alone has 130 stores in the pipeline. The brand is expected to reach about 100 stores by the end of this year, Wiederhorn said.
The company also plans to co-brand more of its stores in order to increase reach. It already has success in co-branding Fatburger and Buffalo’s Express as well as Marble Slab Creamery and Great American Cookies, Wiederhorn said. FAT Brands plans to co-brand a Round Table Pizza with a Fatburger as well as a Johnny Rockets with a Hot Dog on a Stick in the near future.
Its recent acquisition of Nestle Toll House Cafe’s about 85 stores will be rebranded to become Great American Cookies as well, with the first converted store to open in September.
“We believe this tuck-in acquisition will increase our foothold as a leader in the cookie and ice cream dessert category, joining our existing Great American Cookies and Marble Slab Creamery brands,” Wiederhorn says.