- On Thursday, FAT Brands announced that it would buy retro dinner chain Johnny Rockets for $ 25 million.
- FAT Brands CEO Andy Wiederhorn spoke with Business Insider about why the company chose to make the purchase during the pandemic, and what FAT plans to do with Johnny Rockets.
- Take a look at the history of Johnny Rockets, which was founded out of the nostalgia of a fashion store for the malt shops of his childhood, and later became the first chain restaurant chain to board a cruise ship.
- Visit the Business Insider website for more stories.
On Thursday, FAT Brands announced that it will add retro dinner chain and food chain Johnny Rockets to its expanding portfolio of restaurant chains that also include Fatburger and Hurricane Grill & Wings.
FAT Brands acquires Johnny Rockets from Sun Capital Partners, Inc. for about $ 25 million, and takes over the 325 locations worldwide from the dinner market. FAT Brands CEO Andy Wiederhorn told Business Insider in an interview that the purchase has been in the works for a while.
“We have been negotiating to buy this brand for several years,” Wiederhorn said, adding that despite the pandemic, FAT Brands “will definitely be hunting instead of being hunted at the moment.”
Wiederhorn is not fascinated by the market conditions of the pandemic and sees Johnny Rockets as a long-term investment, indicating the strong international presence and volume of unity. “COVID-19 is a short-term crisis, but it’s not the be-all-end-all,” Wiederhorn said.
Here’s a look at the history of Johnny Rockets and why FAT Brands finds that the chain has continued appeal.
