Los Angeles — FAT (Fresh. Authentic. Tasty.) Brands Inc. has successfully completed the acquisition of Elevation Burger for $10 million, which was funded through a combination of sellers’ notes and cash. With the acquisition, FAT Brands now franchises more than 400 restaurants around the world with annual system-wide sales exceeding $400 million.
Elevation Burger was originally conceived in 2002 by Hans Hess as a healthier burger offering. Delivering authentic, sustainably prepared food, Elevation Burger offers grass-fed, free-range options that are better for consumers and for the environment. Elevation Burger franchises 44 locations across the U.S. and internationally. Utilizing FAT Brands’ vast expertise and resources, the acquisition is set to propel Elevation’s forthcoming expansion, both globally and domestically.
“Elevation Burger’s slogan ‘Ingredients Matter’ aligns well with FAT Brands’ commitment in providing guests with fresh, authentic, tasty food,” says Andy Wiederhorn, president and CEO of FAT Brands. “We are thrilled to partner with the brand in this next chapter as they expand domestically and internationally and offer more consumers their organic, free-range, grass-fed offerings.”
FAT Brands is a leading global franchising company that strategically acquires, markets and develops fast-casual and casual dining restaurant concepts around the world. The company currently owns seven restaurant brands — Fatburger, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses — that have approximately 335 locations open and 200 under development in 32 countries. For more information, visit www.fatbrands.com.
SOURCE: FAT Brands