FAT Brands Announces Planned Acquisition of Johnny Rockets
FAT (Fresh. Authentic. Tasty.) Brands Inc. announced that it has agreed to acquire the Johnny Rockets restaurant chain from an affiliate of private equity firm Sun Capital Partners, Inc. for approximately $25 million. The deal will be funded through cash on hand and proceeds generated from the Company’s securitization facility. The purchase is expected to be completed in September 2020. With the acquisition of Johnny Rockets, FAT Brands will have more than 700 franchised and company owned restaurants around the globe with annual system-wide sales exceeding $700 million.
Johnny Rockets was founded in 1986 with its first location on the iconic Melrose Avenue in Los Angeles, California. Known for its 1950s diner style décor, the chain serves up...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required. Password is required.