Twin Peaks

Financing

Fat Brands files to spin off Twin Peaks

The owner of Fatburger and Johnny Rockets filed a registration statement with the SEC to spin off 5% of shares in Twin Peaks to existing shareholders. The casual-dining chain will become an independent, publicly traded company.

Leadership

The restaurant business has produced its share of criminals, including these

Restaurant Rewind: Here's why several prominent chain CEOs got a firsthand exposure to prison foodservice.

The multi-concept restaurant operator said it would also like its Smokey Bones barbecue concept to become a public company.

Fat Brands, which owns both chains, said the conversions will fuel the 103-unit Twin Peaks as it heads toward a planned 2024 IPO.

The company said it will look to acquire similar concepts and convert them to Twin Peaks as it aims to reach 200 locations in the next several years.

The brand collector plans to offer shares of the casual-dining chain to the public but will remain its majority owner.

The Bottom Line: The owner of Twin Peaks, Johnny Rockets and Fazoli’s has shifted its attention to more targeted acquisitions and could spin off or sell some assets.

This offshoot of the full-service Tony Roma’s barbecue brand is designed for nontraditional and smaller spaces.

Jeremy Theisen joins the Twin Peaks and Fazoli's parent after two decades of expanding startups.

The casual-dining chain, owned by Fat Brands, has seen strong sales this year. And its sales are up in Florida.

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