Fat Brands Acquires Fazoli’s Restaurants in $130 Million Deal

Fat Brands Inc. is acquiring restaurant chain Fazoli’s from Sentinel Capital Partners in a $130 million deal.

The transaction is expected to close by mid-December, according to a statement.

Fazoli’s is the fourth acquisition by Fat Brands since September 2020. The company announced last month that it had closed a $300 million acquisition of Twin Peaks, a Dallas, Texas-based sports bar chain. It also bought Johnny Rockets burger restaurants last year and Global Franchise Group in July.

Sentinel Capital, a previous owner of TGI Friday’s, bought Fazoli’s in 2015 from Sun Capital for an undisclosed price, according to Fazoli’s website. ...