FAT Brands Inc. has opened its first Smokey Bones-to-Twin Peaks conversion in Lakeland, Fla., the company said Monday.
Los Angeles-based FAT Brands, which acquired Smokey Bones in 2023, said it has identified a number of Smokey Bones locations to convert to its fastest-growing brand, Twin Peaks.
FAT Brands said it has a pipeline of about 30 Smokey Bones locations it is looking to convert over the next several years.
“Converting Smokey Bones locations to Twin Peaks provides a significant return on investment as altering a standing restaurant with similar square footage and real estate draw like Smokey Bones cuts out about a year and a half of construction time,” Ken Kuick, FAT Brands co-CEO and chief financial officer, said in a statement.
The Lakeland Twin Peaks location, which covers about 7,800 square feet, is the 15th in Florida and 114th systemwide, a company spokesperson said. The concept was founded in 2005.
“Twin Peaks is our fastest-growing concept, producing strong and growing average-unit volumes,” Kuick added. “We believe this strategy will further drive the brand’s robust expansion plans domestically as it continues to redefine the polished casual dining sector.”
FAT Brands bought Twin Peaks in 2021 in a $300 million deal and Smokey Bones in 2023 in a $30 million transaction.
In May, FAT Brands filed confidential Securities and Exchange Commission documents to take Twin Peaks public as a separate company.
FAT (Fresh. Authentic. Tasty.) Brands owns 18 restaurant concepts, including: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean, and Ponderosa and Bonanza Steakhouses, and franchises and owns more than 2,300 units worldwide.
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