FAT Brands has announced the completion of its acquisition of Native Grill & Wings from Wingtime, LLC, a subsidiary of Cybeck Capital Partners, LLC for $20m. The deal was announced earlier in the year and has finally closed as expected.
This will bring the total number of units under FAT Brands to 2,300 franchised and corporate-owned stores, and combined annual system-wide sales of $2.2bn.
“Chicken wings make up a key part of FAT Brands’ diverse portfolio. Prior to forming FAT Brands, Fatburger’s first acquisition was a wing brand, Buffalo’s Cafe, in 2011,” said FAT Brands CEO Andy Wiederhorn.
“We have a strong pulse on the space having been in it for a decade now. Native Grill & Wings further complements our domestic presence, providing a larger footprint for us on the West Coast when it comes to our wing brands.”
FAT Brands has made significant moves in the pursuit of growth this year, and sees acquisitions as the way ahead. The franchisor acquired Johnny Rockets for $25m in June this year and went on to acquire Twin Peaks in September for $300m. Fazoli’s was the next concept FAT Brands saw promise in and acquired it for $130m in November.