M&A Deal Summary

FAT Brands Acquires Twin Peaks

On September 1, 2021, FAT Brands acquired restaurant Twin Peaks from Garnett Station Partners for 300M USD

Acquisition Highlights
  • This is FAT Brands’ 4th transaction in the Restaurants sector.
  • This is FAT Brands’ 2nd largest (disclosed) transaction.
  • This is FAT Brands’ 5th transaction in the United States.
  • This is FAT Brands’ 1st transaction in Texas.

M&A Deal Summary
Date 2021-09-01
Target Twin Peaks
Sector Restaurants
Buyer(s) FAT Brands
Sellers(s) Garnett Station Partners
Deal Type Add-on Acquisition
Deal Value 300M USD

Target

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.

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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 5 of 9
Sector (Restaurants) 4 of 7
Type (Add-on Acquisition) 5 of 7
State (Texas) 1 of 2
Country (United States) 5 of 9
Year (2021) 2 of 4
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-28 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 $443M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 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.

Buy $130M

Seller(S) 1

SELLER

Garnett Station Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2013
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Garnett Station Partners is a private equity firm focused on the consumer sector. Specific areas of interest include food/beverage, health/wellness, automotive, and residential services. The Firm looks to commit $25 to $200 million per investment and will consider opportunities throughout North America. Garnett Station Partners was formed in 2013 and is headquartered in New York City.

DEAL STATS #
Overall 1 of 3
Sector (Restaurants) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-07 Kneaders Bakery & Cafe

American Fork, Utah, United States

Kneaders Bakery & Cafe is a fast-casual restaurant that uses only the highest quality ingredients to create fresh European hearth bread, delicious sandwiches, mouth-watering pastries, hearty soups, and refreshing salads, all made in-house each day. Kneaders Bakery & Cafe was founded in 1997 and is based in American Fork, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-09 Wow Carwash

Las Vegas, Nevada, United States

Wow Carwash builds and operates eco-friendly, tech-enabled express washes in the Southwest. GSP’s investment will accelerate the growth of the region’s leading car wash brand. Wow Carwash was formed in 2015 and is based in Las Vegas, Nevada.

Buy -
Mergr

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