M&A Deal Summary

FAT Brands Acquires Fazoli’s

On November 2, 2021, FAT Brands acquired restaurant Fazoli’s from Sentinel Capital Partners for 130M USD

Acquisition Highlights
  • This is FAT Brands’ 5th transaction in the Restaurants sector.
  • This is FAT Brands’ 3rd largest (disclosed) transaction.
  • This is FAT Brands’ 6th transaction in the United States.
  • This is FAT Brands’ 1st transaction in Kentucky.

M&A Deal Summary
Date 2021-11-02
Target Fazoli’s
Sector Restaurants
Buyer(s) FAT Brands
Sellers(s) Sentinel Capital Partners
Deal Type Add-on Acquisition
Deal Value 130M USD

Target

Fazoli’s

Lexington, Kentucky, United States
Fazoli's is a franchisor and operator of Italian fast casual restaurants in the United States and is positioned to accelerate its growth in the expanding fast casual segment of the restaurant industry. Fazoli's was founded in 1988 and headquartered in Lexington, Kentucky.

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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 6 of 9
Sector (Restaurants) 5 of 7
Type (Add-on Acquisition) 6 of 7
State (Kentucky) 1 of 1
Country (United States) 6 of 9
Year (2021) 3 of 4
Size (of disclosed) 3 of 6
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-17 Native Grill & Wings

Chandler, Arizona, United States

Native Grill & Wings is an owns and operator of polished sports grill with 23 franchised with an extensive menu of pizza, burgers, sandwiches, salads and more. Native Grill & Wings is based in Chandler, Arizona.

Buy $20M

Seller(S) 1

SELLER

Sentinel Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1995
PE ASSETS 11.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Sentinel Capital Partners is a private equity firm that targets investments in middle-market companies with strong management and 'attractive growth prospects'. Sentinel looks to invest up to $400 million of equity in companies generating EBITDA of up to $65 million. Sectors of interest include business services/outsourcing, consumer products and services, food and restaurants, franchising, and manufacturing. Prospective transaction situations include management buyouts, recapitalizations, corporate divestitures, take-privates, and growth capital financings. Sentinel Capital Partners was formed in 1995 and is based in New York, New York.

DEAL STATS #
Overall 63 of 69
Sector (Restaurants) 7 of 8
Type (Add-on Acquisition) 15 of 17
State (Kentucky) 2 of 2
Country (United States) 57 of 62
Year (2021) 6 of 6
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-25 Controlled Products

Dalton, Georgia, United States

Controlled Products is a manufacturer and distributor of premium quality synthetic turf for sports, training, landscape, leisure, and specialty applications. Controlled products are sold to a national network of dealers and installers under Controlled Products’ highly recognizable brand names, SporTurf, GrassTex, and Synthetic Turf International. Controlled also delivers a broad array of turf products to original equipment manufacturers and large regional installation companies under private label arrangements. Controlled Products is based in Dalton, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 RefrigiWear

Dahlonega, Georgia, United States

RefrigiWear is a manufacturer of insulated industrial work wear, accessories, and personal protective equipment for use in sub-freezing temperatures, inclement weather, and low-visibility environments. RefrigiWear is based in Dahlonega, Georgia.

Buy -
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