IPO

CNBC - Fast-casual chain Fatburger prepares for IPO, still gauging investor interest

  • Fatburger and Buffalo's Cafe CEO Andy Wiederhorn announced Thursday that his holding company, FAT Brands, has been trying to gauge investors' appetite for an IPO.

  • The public entity would trade using the ticker symbol "FAT" — which stands for "fresh, authentic, tasty."

  • Fatburger's competitors today include Shake Shack, which went public in early 2015.

  • Chef Bobby Flay is also preparing to take his smaller restaurant chain, Bobby's Burger Palace, public.


Though the casual dining space is believed by some to be a weak link in the restaurant industry today, fast-casual chain Fatburger is ready to test the public market.

Los Angeles-based Fatburger and Buffalo's Cafe CEO Andy Wiederhorn announced Thursday morning that his holding company, FAT Brands, has been trying to gauge investors' appetite for an initial public offering.

"We're testing the waters right now," Wiederhorn told CNBC's "Squawk Box" in an exclusive interview. He added that the business' goal in going public would be to acquire many more franchise brands in the fast-casual category. For now, Wiederhorn heads up two — Fatburger and Buffalo's Cafe, which started in Georgia and is known for its chicken wings.

The public entity would trade under the ticker symbol "FAT" — which stands for "fresh, authentic, tasty," Wiederhorn said. FAT Brands said it aims to raise up to $20 million in its IPO. The company is in the midst of adding another brand to its restaurant portfolio and growing its partnerships with franchisees globally.


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MARKET WATCH - Fatburger parent plans to go public, as it gauges customer interest in IPO


FAT Brands, the parent of Los Angeles-based burger chain Fatburger Corp. and Buffalo's, announced on its website that it plans to go public, while surveying customers of their interest in an initial public offering. "Make history today with our parent company FAT Brands," said a statement on the website. "Register your indication of interest to purchase shares in our I.P.O. by clicking below." Fatburger operates in 5 states and 18 countries, while Buffalo has locations in two states and Qatar. An IPO would come at a tough time for shares of fast-casual burger companies. Shake Shack Inc.'s stock SHAK, -3.53% has lost 6.5% year to date and shares of Habit Burger Grill parent Habit Restaurants Inc. HABT, +0.49% have tumbled 9.9%, while the S&P 500 SPX, -0.26% has climbed 10.7%.


 

 

BUSINESS WIRE - FAT Brands Launches Initial Public Offering via JOBS Act Regulation A+

Our dedication to quality and great taste is reflected in our loyal worldwide following as our brands have grown over the years. We have developed the management team and business infrastructure to continue to grow our brands, acquire new brands and grow them globally under our asset-light model
— Andrew Wiederhorn, Founder & CEO of FAT Brands Inc.

Sights Set on National Securities Exchange Listing

Everyday Investors Can Now Buy Stock in Iconic Brands

August 03, 2017 06:00 AM Eastern Daylight Time

LOS ANGELES--(BUSINESS WIRE)--FAT (Fresh. Authentic. Tasty.) Brands Inc. (“FAT Brands” or the “Company”), today announced the intention to file a Regulation A+ initial public offering that allows anyone the opportunity to invest in its family of brands. FAT Brands is a leading global franchising business that strategically develops fast casual and casual dining restaurants around the world. With a portfolio of brands that includes FatburgerBuffalo’s Cafe, Buffalo’s Express and other acquisitions under contract, FAT Brands has positioned itself for significant growth while remaining devoted to its franchisees’ profitability and their ability to serve only the highest quality menu offerings to customers around the world. FAT Brands franchises more than 200 restaurants across six states and 18 countries worldwide.