- FAT Brands Inc FAT has partnered with franchisee Kitopi to open 136 brick-and-mortar restaurant locations across five countries in the Middle East. The financial terms of the deal were not disclosed.
- Under the deal, six FAT Brands concepts will be opened over the next five years, including Fatburger, Johnny Rockets, Buffalo's Cafe, Great American Cookies, Elevation Burger, and Yalla Mediterranean.
- The company aims to expand in the United Arab Emirates, Kingdom of Saudi Arabia, Bahrain, Qatar, and Kuwait.
- FAT Brands concepts will be available within the next year through Kitopi's existing footprint of more than 70 managed cloud kitchens, also known as ghost kitchens, throughout the region.
- Price Action: FAT shares traded lower by 0.09% at $11.74 in premarket trading on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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