Dairy Processing - December 2021 - 70

cheese
heese
product news
PIZZA
FAT Brands to
acquire Fazoli's for
$130 million
FAT (Fresh. Authentic. Tasty)
Brands, Inc. continues to diversify
its restaurant portfolio with the
announcement it has agreed to
acquire Fazoli's for $130 million
from Sentinel Capital Partners.
Headquartered in Lexington, Ky.,
Fazoli's operates more than 200
restaurants serving freshly prepared
pasta, Submarinos sandwiches,
salads, pizza, breadsticks and
desserts.
Founded in 1988, Fazoli's is the
largest premium quick-service
Italian chain in the United States
and currently has plans to develop
100 units over the next several
years.
" Fazoli's has a great growth story,
in particular, over the last year, "
said Andrew A. Wiederhorn, chief
executive officer of FAT Brands.
" They continue to surpass sales
expectations across the board. We
have been eyeing this category
for some time; however, we were
waiting for the right brand - one
that is high-growth, with almost
70 DEC 2021 | DAIRYPROCESSING.COM
all restaurants having drive-thru
access, in addition to, the synergies
that we will achieve adding Fazoli's
to our portfolio of brands. We
look forward to building off of
the success of Sentinel Capital
Partners. "
Carl Howard, CEO of Fazoli's,
added, " We have had an
outstanding year, and we couldn't
be more pleased to join forces
with FAT Brands, a company that
has the same growth-oriented
mentality as us at Fazoli's. From cobranding
to virtual kitchens to menu
development opportunities, we see
great value in being a part of FAT
Brands. "
The acquisition of Fazoli's will
increase FAT Brands' footprint to
2,300 franchised and corporateowned
stores around the world,
bringing 2022 expected systemwide
sales to more than $2.1 billion. FAT
Brands currently owns 15 restaurant
brands, including Round Table
Pizza, Great American Cookies,
Hot Dog on a Stick, Marble Slab
Creamery and Pretzelmaker, which
were acquired earlier this year.

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Dairy Processing - December 2021

Table of Contents for the Digital Edition of Dairy Processing - December 2021

Dairy Processing - December 2021 - Intro
Dairy Processing - December 2021 - 1
Dairy Processing - December 2021 - 2
Dairy Processing - December 2021 - 3
Dairy Processing - December 2021 - 4
Dairy Processing - December 2021 - 5
Dairy Processing - December 2021 - 6
Dairy Processing - December 2021 - 7
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