Fat Brands is adding another restaurant brand to its growing menu with a $300M purchase of the Twin Peaks restaurant chain.
The owner of Fatburger, Johnny Rockets, Marble Slab Creamery and other restaurant companies has agreed to acquire casual dining chain Twin Peaks from Garnett Station Partners for $300M. Fat Brands said the acquisition will expand its portfolio from quick-service, fast-casual and casual dining concepts into the fast-growing segment of “polished casual dining.”
Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks is designed as the ultimate sports lodge. The company operates 82 locations in 25 states. It expects to open another six locations by the end of the year, with 18 more under development.
The addition of Twin Peaks is expected to increase Fat Brands’ system wide sales from approximately $1.4bn to more than $1.8bn across more than 2,100 stores around the globe, the majority of which are franchised.
“Following the recent acquisitions of Johnny Rockets and Global Franchise Group, this acquisition comes at a time when we’re seeking to expand our market segments into sports and polished casual dining,” said Fat Brands CEO Andy Wiederhorn. “As a strong, growth-oriented concept, Twin Peaks complements our existing brands.”
