The owner of the Global food franchise, “Fat Brands” disclosed their their plans to acquire the the famous food chain ” johnny Rockets “. The deal will amount to 25 million dollar.
The deal is will reach its sage of completion in the month of September of the current year. According to reports, acquiring “Johnny Rockets” will result in Fatburgers having more than 700 franchises and restaurants, company owned.
The Chief Executive Officer (CEO) of Fat Brands, Andy Wiederhorn said, they want to modernize the menu of Johnny Rockets. Even though, Johnny Rockets made some changes in its menu by adding some plant based burgers and vegan milkshakes. At present, Wiederhorn is very optimistic about the business expansion. He hopes that the business will flourish once the pandemic subsides. According to him, the business has bloomed in some markets. This up growth is due to the home delivery, drive through and outdoor seating as well as delivery. He said,
“If working from home becomes a bigger component of daily life, that just adds to the demand to be able to socialize in some way,”
The California based fast food chain will pay as much as 25 million US dollars to get the fast food chain under its umbrella. After sharing the news of its expansion, the shares of the company went up really high to more than 200%. Early in the morning on Thursday, the shares of the brand went up to 204.5% at 10.75. dollars.
Johnny Rockets started in the 1986. It became famous for its 50’s style interior and ice-cream shakes.