LOS ANGELES--(BUSINESS WIRE)--FAT (Fresh. Authentic. Tasty.) Brands Inc. (“FAT Brands” or the “Company”) 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.”
Fresh. Authentic. Tasty. Brands
FAT Brands is a leading 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.
About Fatburger
An all-American, Hollywood favorite, Fatburger is a fast casual restaurant serving big, juicy, tasty burgers, crafted specifically to each customer’s liking. With a legacy spanning 70 years, Fatburger’s extraordinary quality and taste inspire fierce loyalty amongst its fan base, which includes a number of A-list celebrities and athletes. Featuring a contemporary design and ambience, Fatburger offers an unparalleled dining experience, demonstrating the same dedication to serving gourmet, homemade, custom-built burgers as it has since 1952 – The Last Great Hamburger Stand™.
About Buffalo’s Cafe
Founded in 1985 in Roswell, Georgia, the family themed casual dining chain, known for its world famous chicken wings and 13 unique homemade wing sauces, burgers, wraps, steaks and salads has been serving fresh southwestern themed cuisine for over 32 years. Featuring a full bar and table service, Buffalo’s Cafe offers an unparalleled dining experience affording friends and family the flexibility to enjoy an intimate dinner together or to casually catch the next sporting event while enjoying robust menu offerings. Buffalo’s Cafe - Where Everyone Is Family™.
About Buffalo’s Express
Founded in 2012 in Los Angeles, CA, Buffalo’s Express is a fast casual chain known for its world famous chicken wings, proprietary wing sauces, fries, sides, wraps, salads and desserts. Co-branded with 72 Fatburger restaurants to date, Buffalo’s Express’ significant growth can be attributed to its high quality menu offerings and unparalleled dining experience. Featuring a contemporary design and ambience, whether guests are dining-in or having take-out/delivery, Buffalo’s Express offers friends and families the flexibility to enjoy their world famous chicken wings however they prefer. Buffalo’s Express – Where Everyone is Family™.
About Ponderosa and Bonanza Steakhouse
Known for offering family-friendly atmospheres, the Ponderosa Steakhouse and Bonanza Steakhouse brands have been serving American cuisine for more than 50 years. With 120 locations open and under development, the chain of restaurants offers delicious, flame-grilled steaks and entrees along with a high-quality buffet featuring an endless selection of salads, soups, appetizers, vegetables, and desserts at affordable prices.
Forward-Looking Statements
This press release may include “forward-looking statements.” To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the offering statement that we will file with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and FAT Brands does not undertake any duty to update any forward-looking statements except as may be required by law.
Legal Disclaimer
The offering will be made only by means of an offering circular. An offering statement on Form 1-A relating to these securities has been filed confidentially with the Securities and Exchange Commission but has not yet become qualified.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
No money or other consideration is being solicited at this time with respect to such an offering, and if sent in response to these materials for such an offering, it will not be accepted. No securities may be sold, and no offer to buy securities can be accepted and no part of the purchase price can be received for an offering under Regulation A+ until an offering statement is qualified by the U. S. Securities and Exchange Commission, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. An indication of interest made by a prospective investor in a Regulation A+ offering is non-binding and involves no obligation or commitment of any kind.