Falls Church, VA — Elevation Franchise Ventures, LLC, dba Elevation Burger, has sold substantially all of its assets to FAT Brands Inc. Founded in 2005 and headquartered in Falls Church, VA, Elevation Burger is a successful better-for-you restaurant franchisor in the United States and internationally with approximately 45 worldwide locations.
The Company offers a healthier menu than most burger concepts with grass-fed organic beef, french fries cooked in olive oil, and high-quality ingredients throughout. Elevation Burger's vision is to offer authentic and sustainably prepared food that is better for customers and the environment. The Company also strives to deliver an elevated experience. FocalPoint Partners, now B. Riley Securities ("B. Riley"), served as exclusive financial advisor to Elevation Burger on this transaction.
Hans Hess, Founder of Elevation Burger, commented, "We are very proud of the business we have built over the last 14 years, commencing with one location in Virginia and now operating across 10 states and a number of foreign countries. We also feel good about establishing a restaurant concept serving healthier and better tasting food to adults and children throughout the world. We are excited about our brand's future as part of the FAT Brands' portfolio of concepts. I am especially thankful to [B. Riley] in initiating this transaction and helping us achieve a very positive outcome."
Regarding the transaction, Robert Woolway, Managing Director with B. Riley's Food and Restaurant practice, said, "We are pleased to announce the closing of the sale of Elevation Burger to FAT Brands. We believe our client's brand will expand significantly as it benefits from FAT Brands' resources and worldwide network of franchises. This represents another noteworthy and successful transaction for our Food and Restaurant Group."
About Elevation Burger
Elevation Burger was originally conceived in 2002. The founder, Hans Hess, couldn't find the burger he'd been dreaming about since he left California. Hans wanted a burger that was healthier, that he would feel good about feeding his children and that tasted better than industrial-raised, grain-fed beef burgers. Seeing an opportunity, Hans focused his energy on creating a burger that truly stood apart from the rest in terms of taste and sustainability. After three years of careful planning and countless hours of research and development, Hans and his wife April opened the first Elevation Burger in 2005. Driven by a passion for good food that's organic, sustainable and fresh, Elevation Burger began franchising in 2008. For more information, please visit www.elevationburger.com.
About FAT Brands Inc.
FAT Brands is a leading global franchising company that strategically acquires, markets, and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns eight restaurant brands: Fatburger, Buffalo's Cafe, Buffalo's Express, Hurricane Grill & Wings, Elevation Burger, Yalla Mediterranean, Ponderosa and Bonanza Steakhouses, and franchises over 400 units worldwide. For more information, please visit www.fatbrands.com.
B. Riley Securities is a leading investment bank that provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial. For more information, visit brileysecurities.com.
Please contact Robert Woolway, Managing Director, at 310-405-7080 with any questions about this transaction.