Dallas-based restaurant chain Twin Peaks has introduced its plans to go public, following its acquisition through world franchising corporate, FAT Brands Inc. for $300 million in October 2021. Twin Peaks is a sports activities lodge-themed restaurant that has been generating industry-leading reasonable unit volumes, with annual same-store gross sales expanding through 11.3% in 2022. The transfer to go public will supply Twin Peaks with the chance to construct on its place within the sports activities hotel eating class and additional toughen its emblem and capitalize on its growth plans. FAT Brands Inc. will stay the bulk proprietor of publicly traded Twin Peaks following the transaction. Twin Peaks has not too long ago opened its a hundredth location in Indiana and is making plans to open 18 to 20 new gadgets this 12 months, with expectancies of about 115 places through the tip of the 12 months. The corporate additionally has a construction pipeline for an extra 109 franchise gadgets and plans to double its footprint to 200 accommodations through 2027. The greater portfolio is anticipated to build up gross sales to about $1 billion.
Editor’s notice: This article was once at the start revealed within the Dallas Business Journal here.
The transfer to debut at the public markets will reinforce the logo’s persisted enlargement, and the scale and timing of the preliminary providing might be topic to marketplace stipulations. FAT Brands Inc. (Nasdaq: FAT) will stay the bulk proprietor of the publicly traded Twin Peaks following the transaction.
FAT Brands Co-CEO and CFO, Ken Kuick, stated in a ready commentary, “Twin Peaks was an exceptional acquisition for us in 2021. Led by veteran CEO Joe Hummel and a seasoned management team, Twin Peaks continues to produce industry-leading average unit volumes, with annual same-store sales increasing by 11.3 percent in 2022. We believe that creating a separate publicly traded company will provide the best opportunity to further enhance the brand, capitalize on its expansion plans, and build upon its position as a leader in the sports lodge dining category.”
The sports activities lodge-themed restaurant has a construction pipeline for an extra 109 franchise gadgets and plans to double its footprint to 200 accommodations through 2027. The greater portfolio is anticipated to build up gross sales to about $1 billion.
The world franchising corporate got Twin Peaks for $300 million in October 2021, and because then, the informal eating chain has greater its footprint and now operates in 26 states and two nations. The emblem expects to have about 115 places through the tip of the 12 months, a just about 40% build up because the acquisition.