LOS ANGELES, Dec. 17, 2021 (GLOBE NEWSWIRE) — FAT Brands today announced the completion of its pending acquisition of Native Grill & Wings for $20 million from Wingtime, a subsidiary of Cybeck Capital Partners. The acquisition is expected to further increase FAT Brands’ growing market share in the chicken wing category.
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. The Native Grill & Wings transaction follows three other acquisitions this year: Fazoli’s, Twin Peaks and Global Franchise Group.
“Chicken wings make up a key part of FAT Brands’ diverse portfolio. Prior to forming FAT Brands, Fatburger’s first acquisition was a wing brand, Buffalo’s Cafe, in 2011,” said FAT Brands CEO Andy Wiederhorn. “We have a strong pulse on the space having been in it for a decade now. Native Grill & Wings further complements our domestic presence, providing a larger footprint for us on the West Coast when it comes to our wing brands.”
For FAT Brands, Foley & Lardner LLP acted as legal counsel. For Wing Time, LLC, Taft Stettinius & Hollister LLP acted as legal counsel.
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, quick-service, casual and polished casual dining restaurant concepts around the world. The Company currently owns 16 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.
About Native Grill & Wings
Based in Chandler, Arizona, Native Grill & Wings is a family-friendly, polished sports grill with 23 franchised locations throughout Arizona, Illinois, and Texas. Native, as the brand’s legion of fans call it, serves over 20 award-winning wing flavors that guests can order by the individual wing, as well as an extensive menu of pizza, burgers, sandwiches, salads and more. For more information, please visit http://nativegrillandwings.com/.
