Benzinga | Sep 7, 2021 09:13AM EDT

FAT Brands Partners With Kitopi To Expand In Middle-East

* FAT Brands Inc (NASDAQ:FAT) has partnered with franchisee Kitopi to open 136 brick-and-mortar restaurant locations across five countries in the Middle East. The financial terms of the deal were not disclosed.

* Under the deal, six FAT Brands concepts will be opened over the next five years, including Fatburger, Johnny Rockets, Buffalo's Cafe, Great American Cookies, Elevation Burger, and Yalla Mediterranean.

* The company aims to expand in the United Arab Emirates, Kingdom of Saudi Arabia, Bahrain, Qatar, and Kuwait.

* FAT Brands concepts will be available within the next year through Kitopi's existing footprint of more than 70 managed cloud kitchens, also known as ghost kitchens, throughoutthe region.

* Price Action: FAT shares traded lower by 0.09% at $11.74 in premarket trading on the last check Tuesday.