FAT Brands Forays Into Barbecue Business, Scoops Up Smokey Bones Barbecue Chain
Portfolio Pulse from Lekha Gupta
FAT Brands Inc has announced the acquisition of Smokey Bones Bar & Fire Grill restaurant chain from Sun Capital Partners, Inc.'s affiliate for $30 million. This move marks the company's entry into the barbecue business and expands its portfolio of polished dining chains. The acquisition is expected to boost annual adjusted EBITDA by approximately $10 million and add 61 new corporate locations under FAT Brands.
September 26, 2023 | 12:43 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 add 61 new locations to its portfolio. This could potentially increase the company's revenue and profitability.
The acquisition of Smokey Bones Bar & Fire Grill by FAT Brands is a strategic move to expand its portfolio and enter the barbecue business. This is expected to increase the company's annual adjusted EBITDA by $10 million and add 61 new locations, which could potentially increase the company's revenue and profitability. Therefore, this news is highly relevant and important for FAT Brands and could have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100