Conference call and webcast today at 5:00 p.m. ET
LOS ANGELES, July 28, 2022 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today reported fiscal second quarter 2022 financial results for the 13-week period ending June 26, 2022.
Andy Wiederhorn, President and CEO of FAT Brands, commented, “The second quarter marked yet another strong performance for FAT Brands, characterized by robust unit development and profitable revenue growth. After a very active acquisition strategy in 2021, I am particularly pleased with the momentum of our organic growth strategy for the first half of this year.”
“Year to date, we have opened 62 restaurants, including 26 that opened in the second quarter, and remain on track to open 120 new restaurants in 2022, which represents a 5% unit expansion year over year. We are seeing strong new franchisee activity as well as continued demand from existing franchise partners to develop other brands within our portfolio, which is very encouraging as we look beyond our current unit development pipeline of over 900 locations representing 50% EBITDA growth over the next several years.”
“As we have stated, 2022 is a year to digest the acquisitions of 2021 and capitalize on the potential synergies they present. That being said, our acquisition strategy is one of the core pillars of FAT Brands, and we will continue to evaluate and capitalize on potential…
