M&A Deal Summary

FAT Brands Acquires Smokey Bones Barbeque & Grill

On September 25, 2023, FAT Brands acquired restaurant Smokey Bones Barbeque & Grill from Sun Capital Partners

Acquisition Highlights
  • This is FAT Brands’ 7th transaction in the Restaurants sector.
  • This is FAT Brands’ 9th transaction in the United States.
  • This is FAT Brands’ 1st transaction in Indiana.

M&A Deal Summary
Date 2023-09-25
Target Smokey Bones Barbeque & Grill
Sector Restaurants
Buyer(s) FAT Brands
Sellers(s) Sun Capital Partners
Deal Type Add-on Acquisition

Target

Smokey Bones Barbeque & Grill

Greenwood, Indiana, United States
Smokey Bones Barbeque & Grill offers genuine barbeque flavors in a fun, energetic atmosphere known for friendly, attentive service in 68 locations across the Eastern and Midwestern United States. Smokey Bones' menu features a broad range of American favorites including baby-back and St. Louis-style ribs and hand-pulled pork which are slow-smoked daily over hickory in each restaurant for up to 11 hours for fall-off-the-bone tenderness and smokey flavor. Other favorites include flame-grilled sandwiches and steaks, half-pound Angus and Buffalo burgers, as well as a selection of great salads, fish and chicken entrees. Smokey Bones Barbeque & Grill is based in Greenwood, Indiana.

Search 197,704 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

FAT Brands

Beverly Hills, California, United States
Category Company
Founded 2017
Sector Restaurants
Employees2,600
Revenue 480M USD (2023)
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 9 of 9
Sector (Restaurants) 7 of 7
Type (Add-on Acquisition) 7 of 7
State (Indiana) 1 of 1
Country (United States) 9 of 9
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-25 Great American Cookies

Richardson, Texas, United States

Great American Cookies is a premiere dessert and bakery café offering customers an unrivaled experience through the use of fine ingredients, indulgent creations, distinct flavor profiles, and the rich tradition of the very best Nestlé® brands.

Buy -

Seller(S) 1

SELLER

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 123 of 125
Sector (Restaurants) 13 of 13
Type (Add-on Acquisition) 52 of 53
State (Indiana) 5 of 5
Country (United States) 87 of 87
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-14 Koch Separation Solutions

Wilmington, Massachusetts, United States

Koch Separation Solutions is a separation technology company transforming the landscape of separations by leveraging synergistic technology such as membrane filtration and ion exchange. KSS offers solutions for the most demanding applications across food and beverage, life science, and general industrial markets. Koch Separation Solutions is based in Wilmington, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-31 VR Group

Colognola Ai Colli, Italy

VR Group is a producer of washing machine windows and quality glass tableware. VR Group was founded in 1905 and is based in Colognola Ai Colli, Italy.

Sell -
Mergr

Product

Company

Legal