It’s been a busy summer for Fat Brands Inc., the parent company of Fatburger, Buffalo’s Cafe and Buffalo’s Express. It not only filed for an initial public offering but also agreed this week to shell out $10.5 million to acquire Homestyle Dining — owner of the Ponderosa Steakhouse and Bonanza Steakhouse brands.
The brand, which has 200 restaurants in six states and 18 countries, is planning a $24 million IPO, offering 2 million shares at $12 per share. CEO Andy Wiederhorn has said the company will use the proceeds from the offering for brand acquisitions, working capital, domestic and international expansion and retirement of existing debt.
