FAT Brands Inc.

FAT Brands Inc. is a multi-brand restaurant company that develops, markets, acquires, and manages quick service, fast casual, casual dining, and polished casual dining restaurant concepts globally. The company primarily operates as a franchisor, generating revenue from initial franchise fees and ongoing royalties from franchisees. This "asset light" franchisor model aims for strong profit margins and free cash flow while minimizing restaurant operating risks. For some brands, FAT Brands Inc. also directly owns and operates restaurant locations in addition to franchising. The company's scalable management platform supports adding new stores and restaurant concepts with minimal incremental corporate overhead and leverages corporate overhead synergies. Growth strategy includes expanding existing brands and acquiring new ones. Beyond restaurant operations, FAT Brands Inc. owns and operates a manufacturing and production facility in Atlanta, Georgia, supplying franchisees with cookie dough, pretzel dry mix, and other ancillary products. As of December 29, 2024, the company's franchisee base included over 730 franchise partners operating approximately 2,300 restaurants, including those under construction. Additionally, FAT Brands Inc. directly owned and operated 181 restaurants on that date. System-wide sales from franchised and owned locations totaled $2.4 billion during fiscal 2024. The company's name, FAT, represents its values: Fresh, Authentic, Tasty.