Restaurant franchise company FAT Brands announced in September that it had agreed to acquire sports bar and grill chain Twin Peaks for $ 300 million. Dallas-based Twin Peaks, founded in 2005, had been owned since March 2019 by a subsidiary of leading New York-based investment firm Garnett Station.
FAT Brands currently owns 14 restaurant brands, including Fatburger, Johnny Rockets, Great American Cookies, Hot Dog on a Stick, Hurricane Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises over 2,000 units worldwide. The acquisition of Twin Peaks will expand the FAT brand portfolio of fast food, casual and casual dining concepts into the rapidly growing fine casual dining segment.
Since Garnett Station’s investment, Twin Peaks has increased the number of units by approximately 15%, increased its adjusted profits by approximately 50%, and significantly increased both its store sales and l ‘business. The chain is known for their attentive, scantily clad Twin Peaks Girls waiters, as well as their cooked from scratch, 29-degree draft beer, and mountain sports facilities.
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