Fat Brands (FAT) is buying Johnny Rockets for $25 million

Fat Brands (FAT), owner of such restaurant chains as Fatburger and Ponderosa, said Thursday it had agreed to buy the Johnny Rockets restaurant chain from the private equity firm Sun Capital Partners for about $25 million.

 

Once the acquisition is completed, Fat Brands said it will have more than 700 franchised and company-owned restaurants around the globe with annual system-wide sales exceeding $700 million.

Johnny Rockets was founded in 1986 with a 1950s diner theme. It operates restaurants in 325 locations across the U.S. and internationally.

Founded in 2017, Fat Brands currently owns eight restaurant brands and franchises with over 375 units worldwide. It is a subsidiary of Fog Cutter Capital Group Inc., a global franchising company.