Consumer
Johnny Rockets Owner FAT Brands Buys BBQ Chain Smokey Bones From Sun Capital
- Founder says current franchise system is ‘very healthy’
- Deal expected to add about $10 million adjusted Ebitda
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FAT Brands Inc., owner of the Johnny Rockets burger franchise, has agreed to buy restaurant chain Smokey Bones from private equity firm Sun Capital Partners Inc.
The deal values the Florida-based barbecue chain at about $30 million, FAT Brands founder and chairman Andrew Wiederhorn said in an interview. FAT Brands will add 61 Smokey Bones locations in 16 states to its list of 17 brands, he said.