FAT Brands Acquires Smokey Bones Bar & Fire Grill Restaurant Chain From An affiliate Of Sun Capital Partners Via $30M Transaction
Portfolio Pulse from Benzinga Newsdesk
FAT Brands has acquired Smokey Bones Bar & Fire Grill Restaurant Chain from an affiliate of Sun Capital Partners for $30 million. This marks FAT Brands' first entry into the barbecue sector and expands its portfolio of polished dining chains. The acquisition is expected to increase annual adjusted EBITDA by approximately $10 million and add 61 new corporate locations.
September 25, 2023 | 10:02 pm
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FAT Brands' acquisition of Smokey Bones Bar & Fire Grill is expected to boost its annual adjusted EBITDA by $10 million and expand its portfolio with 61 new locations. This could potentially increase the company's revenue and profitability.
The acquisition of Smokey Bones Bar & Fire Grill by FAT Brands for $30 million is a significant move for the company. It marks their first entry into the barbecue sector, which could potentially open up a new revenue stream. Additionally, the acquisition is expected to increase their annual adjusted EBITDA by $10 million, indicating a potential increase in profitability. The addition of 61 new corporate locations also expands their operational footprint, which could lead to increased sales and revenue.
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