FAT Brands Enters into Agreement to Acquire Ponderosa and Bonanza Steakhouses
Franchisor to Make First Acquisition on Closing of Initial Public Offering
FAT (Fresh. Authentic. Tasty.) Brands Inc has entered into an agreement to acquire Homestyle Dining LLC, parent company to the Ponderosa Steakhouse and Bonanza Steakhouse brands (“Ponderosa” and “Bonanza”). Once the $10.5 million deal has closed, Ponderosa and Bonanza will be added to the Company’s existing portfolio of brands that includes Fatburger, Buffalo’s Cafe and Buffalo’s Express. The Company also plans to develop a fast casual version of the Ponderosa concept.
FAT Brands’ acquisition of the steakhouse brands feeds into the Form 1-A filing with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering of its common stock under the recently amended provisions of Regulation A+ pursuant to the Jumpstart Our Business Startups (JOBS) Act of 2012, which can be viewed at https://www.sec.gov/spotlight/jobs-act.shtml. FAT Brands intends to make history by being the first Reg A+ Issuer listed on NASDAQ to pay a dividend. Individuals interested in learning more about the FAT Brands Regulation A+ investment opportunity can register an indication of interest by visiting www.banq.co/listings/fat.
“We are entering into our first major deal since the 2011 acquisition of Buffalo’s Cafe and subsequent creation of Buffalo’s Express in 2012,” said Andy Wiederhorn, CEO and President of FAT Brands. “Once closed, the acquisition of Ponderosa and Bonanza will be one of many milestones as we take FAT Brands public, acquire other restaurant concepts and expand our global reach.”
FAT Brands is a global franchising company that strategically develops fast casual and casual dining restaurants around the world. The Company currently owns two restaurant brands that have more than 200 locations open and under development with an overall footprint in 18 countries.