The ultimate sports lodge was acquired by FAT Brands Inc., ranked top five in Knapp-Track’s casual dining segment, opened three new locations and more in third quarter
The ultimate sports lodge’s continued success caught the attention of mega restaurant concept FAT Brands Inc. and was acquired by the company in October for $300 million. The acquisition marked FAT Brands’ entry into the polished casual dining category, which Twin Peaks is continuing to lead, according to Knapp-Track. The data analytics company ranked Twin Peaks as one of the top five restaurants in the casual dining segment for all of 2021, including July, August and September.
“Twin Peaks’ winning streak this year has undoubtedly been impressing people,” said Twin Peaks CEO Joe Hummel. “We caught the eye of FAT Brands, and we’re excited to show them everything our brand is capable of. With our aggressive growth strategy and impressive Knapp-Track results, Twin Peaks shows no signs of slowing down.”
Driving domestic and international development remained at the forefront for Twin Peaks in the third quarter. The company opened two lodges in Cypress Creek, Florida and Bryan, Texas, as well as expanded in Latin America with the opening of its second Mexico City restaurant. For the remainder of 2021, Twin Peaks has six more openings coming down the pipeline. Three of the new stores slated to open are a result of Twin Peaks adding to its longstanding presence in the Lone Star State by launching corporate store expansion in Amarillo, Burleson, and Grand Prairie, Texas.
“While Twin Peaks has only been a part of FAT Brands for a month, we couldn’t be more impressed with their incredibly strong performance as of recent,” said FAT Brands CEO Andy Wiederhorn. “We look forward to building upon their strong development pipeline to deliver the iconic Twin Peaks experience to even more guests across the globe.”
Along with introducing Twin Peaks to new markets, the brand signed a franchise deal in July with Ricky Warman and Mike Cothern to bring the sports viewing experience to Daytona Beach. Warman, a well-established franchisee for other brands such as First Watch, Papa John’s and an existing Twin Peaks in Fort Myers, Florida, expects to open three new lodges in the area, with the first of the new restaurants expected to open in fall of 2022.
To jump start the final quarter, Twin Peaks recently executed an area development agreement with the prolific franchise group VegasTP Inc. to develop four lodges in Las Vegas and Reno. The company also expects to ink three more franchise deals for a total of almost 30 stores throughout the Gulf Coast, Tampa and Philadelphia.
As the go-to destination for the ultimate gameday experience, Twin Peaks’ culinary team has been consistently leaning into menu innovation to fuel fans with their favorite made-from-scratch food. The brand kicked off football season with the launch of shareable Loaded Fries, spicy meatball sandwich and appetizer, new wing sauces and more, which have become fan favorites. Looking into Q4, Twin Peaks plans to level up its dining experience even further with more delicious food and beverage offerings. The brand is currently testing flatbreads in several locations and anticipates that with the addition of pizza ovens, flatbreads could become a staple in all of its stores in the future. Twin Peaks is also working on its continued national launch of its virtual concept – Good as Cluck – and will test Crispy and Street Tacos, Cinnamon Toast Crunch Cheesecake and S’mores Chocolate Cake in select markets across the country.
“Our brand has experienced incredible growth so far this year, from impressive market expansion to elevating our robust culinary and beverage offerings,” Hummel said. “We can’t wait to carry this high-energy momentum into 2022.”
To learn more about Twin Peaks, visit twinpeaksrestaurant.com.
About FAT (Fresh. Authentic. Tasty.) Brands
FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, quick service, casual dining, and polished casual dining concepts around the world. The Company currently owns 15 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises over 2,100 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.
About Twin Peaks
Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks now has 85 locations in the US and Mexico. Twin Peaks is the ultimate sports lodge featuring made-from-scratch food and the coldest beer in the business surrounded by scenic views and the latest in high-definition TVs. At every Twin Peaks, guests are immediately welcomed by a friendly Twin Peaks Girl and served up a menu made for MVPs. From its smashed and seared to order burgers to its in-house smoked brisket, pork and wings, guests can expect menu items capable of satisfying every appetite. To learn more about franchise opportunities, visit twinpeaksfranchise.com. For more information, visit twinpeaksrestaurant.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial and operating performance of Twin Peaks and FAT Brands Inc., the ability to open new Twin Peaks stores under development, and FAT Brands’ ability to conduct future accretive and successful acquisitions. Forward-looking statements reflect management’s expectations concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies, including, but not limited to, the risks and uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These risks, uncertainties and contingencies are difficult to predict and beyond our control and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that FAT Brands files from time to time with the Securities and Exchange Commission, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.
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