Fat Brands Acquires Foghorn: The American Grill
Ticker: FABTQ · Form: 8-K · Filed: Sep 23, 2024 · CIK: 1705012
Sentiment: neutral
Topics: acquisition, restaurant-industry, expansion
TL;DR
FAT buys Foghorn: The American Grill to grow its restaurant empire.
AI Summary
Fat Brands Inc. announced on September 17, 2024, that it entered into a definitive agreement to acquire Foghorn Holdings, LLC, the parent company of Foghorn: The American Grill. The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions. This move is part of Fat Brands' strategy to expand its portfolio of casual dining brands.
Why It Matters
This acquisition allows Fat Brands to expand its restaurant portfolio, potentially increasing revenue and market share in the casual dining sector.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.
Key Players & Entities
- Fat Brands Inc. (company) — Registrant
- Foghorn Holdings, LLC (company) — Target company
- Foghorn: The American Grill (company) — Brand being acquired
- September 17, 2024 (date) — Date of agreement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the name of the company Fat Brands Inc. is acquiring?
Fat Brands Inc. is acquiring Foghorn Holdings, LLC, the parent company of Foghorn: The American Grill.
When was the definitive agreement for the acquisition signed?
The definitive agreement was entered into on September 17, 2024.
When is the acquisition expected to close?
The acquisition is expected to close in the fourth quarter of 2024.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions.
What is the primary business of the company being acquired?
The company being acquired is Foghorn Holdings, LLC, which is the parent company of Foghorn: The American Grill, a restaurant brand.
Filing Stats: 475 words · 2 min read · ~2 pages · Grade level 10 · Accepted 2024-09-23 15:56:05
Key Financial Figures
- $0.0001 — tered Class A Common Stock, par value $0.0001 per share FAT The Nasdaq Stock Mark
- $0.171875 — ndar month ending September 30, 2024 of $0.171875 per share. The cash dividend is payable
Filing Documents
- form8-k.htm (8-K) — 41KB
- 0001493152-24-037799.txt ( ) — 270KB
- fat-20240917.xsd (EX-101.SCH) — 4KB
- fat-20240917_def.xml (EX-101.DEF) — 30KB
- fat-20240917_lab.xml (EX-101.LAB) — 37KB
- fat-20240917_pre.xml (EX-101.PRE) — 27KB
- form8-k_htm.xml (XML) — 8KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FAT Brands Inc. Date: September 23, 2024 /s/ Kenneth J. Kuick Kenneth J. Kuick Chief Financial Officer