FAT Brands agrees to acquire Native Grill & Wings for $20M; new CEO employment and COO promotion

Fat Brands, Inc

Acquisition of Native Grill & Wings for $20M cash, expected close mid-December 2021.
Deal to be funded by new notes from securitization facilities; adds ~$3M normalized EBITDA in 2022.
CEO Andrew Wiederhorn new employment agreement: $750k base salary, bonus up to 300% of base.
Thayer Wiederhorn promoted to COO effective Nov 18, 2021; previously Chief Marketing Officer.
Native Grill & Wings has 23 franchised locations; FAT Brands now has over 2,300 units globally.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Thayer D. Wiederhorn

Chief Operating Officer

FATAQ · Fat Brands, Inc

Effective: 2021-11-18
Filed: November 24, 2021, 6:59 PM ET

On November 18, 2021, the Company promoted Thayer D. Wiederhorn to Chief Operating Officer of the Company, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Thayer D. Wiederhorn changed role as Chief Operating Officer at Fat Brands, Inc.

Action: promoted
Role: Chief Operating Officer

Exact text from the filing

On November 18, 2021, the Company promoted Thayer D. Wiederhorn to Chief Operating Officer of the Company, effective immediately.

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Fat Brands, Inc filing history →

Source: SEC EDGAR

accession 0001493152-21-029842

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