FAT Brands Relaunches as OHG Brands With 1,700+ Units

FAT Brands has officially become OHG Brands (Original. Honest. Good.), marking a new chapter for the multi-brand restaurant franchising company following its bankruptcy restructuring and acquisition by lender-backed FBG Bid Co. LLC. The new identity was unveiled on September 30, following FBG Bid Co.’s June 2026 acquisition of substantially all assets tied to FAT Brands’ core restaurant portfolio for approximately $595 million. The transaction transferred control of more than 1,700 franchised and company-owned restaurants across multiple restaurant categories to the new ownership group. OHG Brands currently comprises 12 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Great American Cookies, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Native Grill & Wings, and Ponderosa and Bonanza Steakhouses. Together, the portfolio spans quick-service, fast-casual and casual dining concepts across global markets. The June transaction was approved by the U.S. Bankruptcy Court for the Southern District of Texas following a court-supervised sale process. The approximately $595 million deal included the restaurant brands as well as a Georgia-based manufacturing facility supporting Great American Cookies and Pretzelmaker. The transition follows FAT Brands’ Chapter 11 filing in January 2026, after years of aggressive acquisition-led expansion left the company carrying substantial debt. At its peak, FAT Brands had more than 2,200 restaurants worldwide and had spent nearly $1 billion acquiring restaurant concepts between 2020 and 2023 as it built a broad portfolio spanning burgers, pizza, wings, desserts and casual dining. The restructuring separated several assets from the former FAT Brands portfolio. Twin Peaks was transferred in a separate transaction valued at approximately $359.5 million, while Hot Dog on a Stick was acquired by Amazing Brands for $8 million and Elevation Burger was acquired by TABCO International Food Catering for $2.5 million. Smokey Bones was ultimately shut down. From Fatburger to a Multi-Brand Franchising Platform FAT Brands was formally established in 2017 by founder Andy Wiederhorn as a restaurant franchising platform built around acquiring and developing established concepts. Its roots, however, stretch further back through Fatburger, which was acquired in 2003 and became the foundation of the group’s restaurant portfolio. Buffalo’s Cafe followed in 2011, while Buffalo’s Express was created in 2013 as a co-branded format with Fatburger. The company accelerated its acquisition strategy from 2020 onward, adding brands across different restaurant segments and using franchising as a key growth engine. By the time of its restructuring, the company had built a portfolio that included brands such as Fatburger, Johnny Rockets, Round Table Pizza, Fazoli’s, Great American Cookies, Marble Slab Creamery, Twin Peaks and Pretzelmaker. FAT Brands’ expansion strategy was heavily focused on franchising, allowing the group to scale multiple concepts through franchisees while broadening its presence across the U.S. and international markets. Before the restructuring, its portfolio had grown to more than 2,200 restaurants worldwide. The company’s corporate identity also evolved during this period. In 2023, Wiederhorn stepped aside as CEO and moved into a strategic advisory role, while the business continued under new leadership. Taylor Wiederhorn was subsequently appointed co-CEO in 2025 alongside Ken Kuick. The bankruptcy process ultimately resulted in a change in ownership. Under the restructuring, lender-backed FBG Bid Co. acquired the core portfolio, while FAT Brands moved toward winding down its corporate structure. A bankruptcy court approved the company’s liquidation plan in July 2026. With the launch of OHG Brands, the lender-owned business is now positioning the remaining portfolio around the heritage of its established restaurant brands while pursuing future franchise growth and modernization. OHG said further details about the new company will be released in November 2026. The company currently says it franchises and owns more than 1,700 units worldwide, giving the new organization a sizeable multi-brand franchise base as it begins its next phase.