Why You Might See More Fatburger Locations In The Near Future
If you're ever in the mood for burgers, you can always count on there being plenty of tasty fast food options around the corner. You can get a Whopper at your local Burger King, or a Big Mac at the nearest McDonald's, but pretty soon, a big fat burger from Fatburger may be your future go-to. That's because, according to Restaurant Dive, restaurant group Fat Brands has plans to open 900 more restaurants over the course of the next five years.
Aside from Fatburger, Fat Brands is the company behind other major fast food chains including Johnny Rockets, Native Grill & Wings, and Hot Dog on a Stick, so the 900 locations won't just be Fatburgers, though it's safe to say a good number of them will be. Fat Brands CEO Andy Wiederhorn shared during a July 28 earnings call that the expansion is already underway, with 50 to 60 units being under construction and expected to open doors as early as 2023.
Fat Brands recently acquired Global Franchise Group
Fatburger may be a beloved burger chain, but good food isn't the only reason Fat Brands will be opening more restaurants. During the latest earnings call, Chief Financial Officer Ken Kuick credited the company's recent financial success to the eight new restaurants acquired in 2021. As shared in a press release published on the company's website, Fat Brands bought out Global Franchise Group for $442.5 million, acquiring Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery, and Pretzel Maker. Twin Peaks, Fazoli's, and Native Grill and Wings were also acquired, Kuick shared.
"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," CEO Andy Wiederhorn explained on the call. That demand, of course, means we'll be seeing a lot more of our favorite fast-casual dining options in the near future — Fatburger included.