Fatburger owner FAT Brands announces $25 million acquisition of Johnny Rockets

FAT Brands, the parent company of chain Fatburger, announced it will acquire the burger restaurant Johnny Rockets for approximately $25 million.

The purchase is expected to be completed in September 2020, according to a statement by the company.

"This acquisition is a transformative event for FAT Brands in terms of scale and brand awareness," said Andy Wiederhorn, president and CEO of FAT Brands. "We see a lot of synergy with Johnny Rockets and our current restaurant concepts and we are eager to take the brand to new heights.”

With this deal, FAT Brands will have more than 700 franchised and company-owned restaurants around the globe, exceeding $700 million in annual system-wide sales. 

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Johnny Rockets currently has over 325 locations across the U.S. and internationally, including nine company-owned locations. FAT Brands has 82 Fatburger locations in the U.S., and owns other restaurant chains including Elevation Burger and Buffalo's.