Los Angeles — FAT (Fresh. Authentic. Tasty.) Brands Inc. has agreed to acquire the Johnny Rockets restaurant chain from an affiliate of private equity firm Sun Capital Partners, Inc. for approximately $25 million. The deal will be funded through cash on hand and proceeds generated from the company’s securitization facility. The purchase is expected to be completed in September 2020. With the acquisition of Johnny Rockets, FAT Brands will have more than 700 franchised and company-owned restaurants around the globe. Johnny Rockets was founded in 1986 with its first location …
Sun Capital Partners
Aventura, Fla. — Not many restaurants can triple in size during a global pandemic, but Smokey Bones is doing just that by expanding its virtual restaurants, The Wing Experience and The Burger Experience, to all of its brick-and-mortar restaurants. The virtual restaurants are delivery-only and operate out of existing Smokey Bones’ brick-and-mortar kitchens, and out of the Smokey Bones’ ghost kitchen in Chicago. The menus feature Smokey Bones’ burgers and wings, including unique recipes created specifically for each virtual restaurant brand. “By opening these new virtual restaurants, we can shine …
Smokey Bones Fully Reopens All Restaurants, Adds a New Location with Ghost Kitchen and Virtual Restaurant
by Katie Lee
Aventura, Fla. — Smokey Bones reopened all of its 61 restaurants in 16 states on June 30. During the pandemic, Smokey Bones created and opened its 61st restaurant, a ghost kitchen in Chicago and opened a new brand, The Wing Experience, in June as a virtual restaurant located inside its ghost kitchen. “We are proud to not only have reopened all of our restaurants, but we have demonstrated, with the launch of our ghost and virtual kitchens, that Smokey Bones is a growth brand, now and in the future,” says …