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FAT Brands Opens 142 Restaurants in 2022 

Leading the way in new store development amongst FAT Brands’ concepts was Fatburger and Buffalo’s Express with 86 stores, Fazoli’s with 61, Round Table Pizza with 56, and Twin Peaks with 50. Noteworthy franchise deals included a combined 80-store development agreement for 40 Fatburger and Buffalo’s Express locations and 40 Round Table Pizza restaurants in the state of Texas, a 32-store agreement for Twin Peaks in Mexico, and a10-store agreement for Johnny Rockets in Israel.

Other strategic deals included 10 Marble Slab Creamery locations in Egypt and a nine-store development deal for Fazoli’s in Phoenix, AZ. The record-breaking development activity by the company will also bring its iconic portfolio to highly anticipated areas, such as Fatburger arriving in Florida, Puerto Rico and Atlanta, GA, Fazoli’s landing in Louisiana and Dallas, TX, and Twin Peaks growing its presence in Chicago, IL.

“We are extremely proud of our organic growth and the performance of our team in 2022,” says Taylor Wiederhorn, Chief Development Officer of FAT Brands. “Franchisee interest was at an all-time high from both new and existing franchisees, which speaks volumes to our robust portfolio of brands that continue to deliver strong same-store sales and attract new fans around the globe. This year, we will remain focused on converting our over 1,000-unit pipeline into new stores, approximately 175 of which are set to open in 2023, along with continuing to fuel our long-term growth with additional development deals.” 

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In-N-Out Burger Sign.

 In-N-Out entered Houston in 2019 and averaged more than 600,000 visits per store in that market last year.

In-N-Out Burger led the industry in terms of average visits per store last year, thanks in large part to a strong cult following on the West Coast. Can the burger chain maintain its status as a foot traffic leader as it expands into new territory?

The brand in January unveiled plans to build a $125.5 million corporate office in Tennessee and open locations in Nashville by 2026. The new locations will be the chain’s first stores east of Texas. Mobile analytics platform Placer.ai dug into In-N-Out’s visitation data for a look at the potential foot traffic implications of the planned expansion. 

In-N-Out has 385 corporate-owned units across California, Nevada, Arizona, Utah, Texas, Oregon, and Colorado. A look at average visits per location at dozens of fast-casual and quick-service chains shows In-N-Out leads the pack by a wide margin. According to Placer.ai, it averaged nearly 700,000 visits per store in 2022. That’s more than four times the industry average of 121,000.

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  Wild-Eggs-New-Albany-location-800x521.jpg 

Wild Eggs brunch chain acquired by investment group

 Wild Eggs, which has 15 locations in Kentucky, Indiana and Ohio, has been sold to PG Growth Opportunities Fund, which plans to take the brand national.

The Mergers and Acquisitions market was active Monday with the news that Miami-based investment group PG Growth Opportunities Fund has purchased the Louisville-based Wild Eggs brunch chain from Patoka Capital. The deal, which was finalized Jan. 18, includes ownership of Wild Eggs’ 15 locations in Kentucky, Indiana and Ohio, as well as future franchising rights to the investor group.

Financial terms of the deal were no disclosed. Wild Eggs will remain based in Louisville with its current leadership team intact.  

According to a press release, PGOF I was created by restaurant and business executives Andy Abbajay, Cliff Harris and George Wooten to “pursue opportunities in the food and beverage, restaurant and retail space.” The team plans to add more corporate and franchised Wild Eggs locations throughout Kentucky, Indiana and Ohio with an initial focus on the Lexington, Cincinnati and Indianapolis markets. The company states that its goal is to establish a strong regional presence through a core base of franchisees and, ultimately, launch nationwide.

“It was a pleasure working with Pakota Capital and Chance Ragains through this process, and we are thrilled to continue growing the culture and success of the Wild Eggs brand.  We are committed to keeping it a people-first, food-focused brand operating under a culture of ownership and integrity,” PGOF I representative Jaime Sosa said in a statement

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