Wing-Time

FAT Brands Inc. Completes Acquisition of Native Grill & Wings

Retrieved on: 
Friday, December 17, 2021
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LOS ANGELES, Dec. 17, 2021 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today announced the completion of its pending acquisition of Native Grill & Wings for $20 million from Wingtime, LLC, a subsidiary of Cybeck Capital Partners, LLC. The acquisition is expected to further increase FAT Brands’ growing market share in the chicken wing category.

Key Points: 
  • Brands Inc. (NASDAQ: FAT) (FAT Brands or the Company) today announced the completion of its pending acquisition of Native Grill & Wings for $20 million from Wingtime, LLC, a subsidiary of Cybeck Capital Partners, LLC.
  • With the acquisition of Native Grill & Wings, FAT Brands will have more than 2,300 franchised and corporate-owned stores around the world with a combined annual system-wide sales of approximately $2.2 billion.
  • Prior to forming FAT Brands, Fatburgers first acquisition was a wing brand, Buffalos Cafe, in 2011, said FAT Brands CEO Andy Wiederhorn.
  • Based in Chandler, Arizona, Native Grill & Wings is a family-friendly, polished sports grill with 23 franchised locations throughout Arizona, Illinois, and Texas.

FAT Brands Inc. Agrees to Acquire Native Grill & Wings for $20 Million

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LOS ANGELES, Nov. 22, 2021 (GLOBE NEWSWIRE) -- FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) announced today that it has agreed to acquire Native Grill & Wings, an Arizona-based restaurant chain known for its cult-like following and 20 wing flavors that guests can order by the individual wing, for $20 million from Wingtime, LLC, a subsidiary of Cybeck Capital Partners, LLC. Marking FAT Brands’ third chicken wing concept, the acquisition of Native Grill & Wings will be funded with cash from the issuance of new notes from the Company’s securitization facilities and is expected to close in mid-December 2021.

Key Points: 
  • With the acquisition of Native Grill & Wings, FAT Brands will have more than 2,300 franchised and corporate-owned stores around the world with a combined annual system-wide sales of approximately $2.3 billion.
  • The Native Grill & Wings system is poised for a breakout to the next level, and FAT Brands has the resources and experience that can take it there.
  • Native Grill & Wings CEO Dan Chaon commented, Ive known the FAT Brands team for quite a while.
  • Based in Chandler, Arizona, Native Grill & Wings is a family-friendly, polished sports grill with 23 franchised locations throughout Arizona, Illinois, and Texas.