FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) announced that it has successfully completed the acquisition of Elevation Burger for $10 million which was funded through a combination of sellers’ notes and cash. With the acquisition of Elevation Burger, FAT Brands now franchises more than 400 restaurants around the world with annual system-wide sales exceeding $400 million.
Elevation Burger was originally conceived in 2002 by Hans Hess as a healthier burger offering. Delivering authentic, sustainably prepared food, Elevation Burger offers grass-fed, free-range options that are better for consumers and for the environment. Elevation Burger franchises 44 locations across the U.S. and internationally. Utilizing FAT Brands’ vast expertise and resources, the acquisition is set to propel Elevation’s forthcoming expansion, both globally and domestically.
“Elevation Burger’s slogan ‘Ingredients Matter’ aligns well with FAT Brands’ commitment in providing guests with fresh, authentic, tasty food,” said Andy Wiederhorn, President and CEO of FAT Brands. “We are thrilled to partner with the brand in this next chapter as they expand domestically and internationally and offer more consumers their organic, free-range, grass-fed offerings.”
June 20, 2019