Foley & Lardner LLP represented FAT (Fresh. Authentic. Tasty.) Brands Inc. (“FAT Brands” or the “Company”) in its acquisition of Native Grill & Wings, an Arizona-based restaurant chain known for its cult-like following and 20 wing flavors that guests can order by the individual wing, for $20 million. It will be funded with cash from the issuance of new notes from the Company’s securitization facilities. The transaction is slated to close by mid-December 2021.
Through Native Grill & Wings, which will be FAT Brands’ third chicken wing concept, FAT Brands will have more than 2,300 franchised and corporate-owned stores around the world with a combined annual system-wide sales of approximately $2.3 billion. The Native Grill & Wings deal follows FAT Brands’ planned acquisition of Fazoli’s, announced in early November, and marks the Company’s fourth acquisition in 2021.
The Foley team was led by Partner Benjamin Rikkers and included Partner Raj Tanden and Associate Justin Lauria-Banta.