M&A Deal Summary

FAT Brands Acquires Global Franchise Group

On June 28, 2021, FAT Brands acquired franchising company Global Franchise Group from Lion Capital and Serruya Private Equity for 443M USD

Acquisition Highlights
  • This is FAT Brands’ 1st transaction in the Franchising sector.
  • This is FAT Brands’ largest (disclosed) transaction.
  • This is FAT Brands’ 4th transaction in the United States.
  • This is FAT Brands’ 1st transaction in Georgia.

M&A Deal Summary
Date 2021-06-28
Target Global Franchise Group
Sector Franchising
Buyer(s) FAT Brands
Sellers(s) Lion Capital
Serruya Private Equity
Deal Type Add-on Acquisition
Deal Value 443M USD
Advisor(s) Duff & Phelps Corp. (Financial)

Target

Global Franchise Group

Atlanta, Georgia, United States
website
Global Franchise Group is a strategic brand management company that currently owns and manages a portfolio of franchised brands in the quick service restaurant industry and the retail footwear and accessories industry. Global Franchise Group was founded in 2010 and is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

FAT Brands

Beverly Hills, California, United States

website

Category Company
Founded 2017
Sector Restaurants
Employees1,100
Revenue 119M USD (2021)
DESCRIPTION

FAT Brands is a franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns five restaurant brands, Fatburger, Buffalo’s Cafe, Buffalo’s Express and Ponderosa & Bonanza Steakhouses, that have approximately 300 locations open and 300 under development in 32 countries. FAT Brands was founded in 2017 and is based in Beverly Hills, California.

DEAL STATS #
Overall 4 of 9
Sector (Franchising) 1 of 2
Type (Add-on Acquisition) 4 of 7
State (Georgia) 1 of 1
Country (United States) 4 of 9
Year (2021) 1 of 4
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-13 Johnny Rockets

Lake Forest, California, United States

The Johnny Rockets Group, Inc. is an international restaurant franchise that offers high quality, innovative menu items including items including Certied Angus Beef® cooked-to-order hamburgers, Boca Burger®, chicken sandwiches, crispy fries and rich, delicious hand-spun shakes and malts. Johnny Rockets was established in 1986 and is based in Lake Forest, California.

Buy $25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 Twin Peaks

Dallas, Texas, United States

Twin Peaks is an ultimate sports lodge featuring made-from-scratch food and the coldest beer in the business surrounded by scenic views and the latest in high-definition TVs. At every Twin Peaks, guests are immediately welcomed by a Twin Peaks team member and served up a menu made for MVPs. From its smashed and seared-to-order burgers to in-house smoked ribs and hand-breaded wings, guests can expect menu items capable of satisfying every appetite. Twin Peaks was formed in 2005 and is based in Dallas, Texas.

Buy $300M

Seller(S) 2

SELLER

Lion Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2004
PE ASSETS 4.3B EUR
Size Mega
Type Sector Focused
DESCRIPTION

Lion Capital LLP is a specialist private equity firm focused on consumer-oriented opportunities throughout Europe and North America. Specific areas of interest include apparel, accessories, luxury goods, food, and specialty retail. Lion Capital LLP was formed in 2004 and is based in London. The Firm has an additional office in New York City.

DEAL STATS #
Overall 23 of 23
Sector (Franchising) 1 of 1
Type (Add-on Acquisition) 12 of 12
State (Georgia) 1 of 1
Country (United States) 7 of 7
Year (2021) 2 of 2
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-22 Grenade

Solihull, United Kingdom

Grenade is a sports performance and energy business. Grenade offers a highly differentiated range of nutrition products with a unique brand that has significant international appeal. Grenade's products are sold in over 100 countries and across a multitude of channels. Grenade was established in 2010 and is based in Solihull, United Kingdom.

Sell -
SELLER

Serruya Private Equity

Investor

website

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Serruya Private Equity is a Canadian family owned private investment group. The Firm looks to leverage its history in the franchising and food sectors to make a variety of investments at various stages of development. SPE’s investing and lending activity is broad based and includes outright acquisitions, equity investing and lending. Serruya Private Equity is based in Markham, Ontario.

DEAL STATS #
Overall 2 of 2
Sector (Franchising) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Georgia) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-20 Global Franchise Group

Atlanta, Georgia, United States

Global Franchise Group is a strategic brand management company that currently owns and manages a portfolio of franchised brands in the quick service restaurant industry and the retail footwear and accessories industry. Global Franchise Group was founded in 2010 and is based in Atlanta, Georgia.

Buy -
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