FAT Brands Enters Libya With 10-Store Deal

  • FAT Brands Inc FAT signed a new deal to enter Libya with 10 new franchised restaurants. The financial terms of the arrangement were not disclosed.
  • The new stores will be five co-branded Johnny Rockets and Hurricane Grill & Wings locations and five co-branded Fatburger and Buffalo's Express restaurants. The new stores will be opened over three years.
  • "The Middle East is an important growth area for FAT Brands," said CEO Andy Wiederhorn.
  • Franchisee Al Majmoua Al Moutakamila is spearheading the 10-store deal, marking the first co-branded Johnny Rockets and Hurricane Grill & Wings location to date in the region.
  • Price Action: FAT shares are trading higher by 1.34% at $10.56 on the last check Friday.
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