Real Estate & Hospitality Pro Signs Multi-Unit Deal to Bring More Twin Peaks to Southeastern U.S. including Charleston, South Carolina

Award-winning sports bar continues extraordinary growth in 2024

DALLAS (June 25, 2024) – After conquering the worlds of commercial real estate and hospitality, Josh Baltes is now diving into the world of ice-cold beers, legendary scratch-made food and scenic views – by signing an area development agreement to open six Twin Peaks Restaurants.

Baltes plans to open sports lodges throughout the southeastern U.S., including markets such as Charleston, S.C., Mobile, Ala., Savannah, Ga. and the Florida Panhandle. The first location in Charleston, SC is scheduled to open by the end of 2025.

“I couldn’t be more excited to be a part of the Twin Peaks team,” said Baltes. “I’m looking forward to bringing the ultimate sports bar experience to more guests in the Southeast.”

Having developed eight hotel projects for major hospitality brands, Baltes now serves as president of Lighthouse Hospitality Group, Inc., an approved developer and operator for Hilton, Hyatt, Intercontinental Hotel Group and Marriott.

“Since 1995, I’ve gained diverse experience in commercial real estate and the hospitality sector,” said Baltes. “I made a conscious decision to immerse myself in the hospitality industry, working my way up from entry-level positions to executive roles. This hands-on approach has given me invaluable insights into the business.”

In Q1 of this year, Twin Peaks opened four new lodges: Boardman, Ohio; Guadalajara, Mexico; and Doral, Fla.; and Naples, Fla. The brand surpassed the 100-unit milestone last year and is currently nearing 115. With Baltes on board, the Twin Peaks team is looking forward to expanding its footprint to several other markets.

Even more lodges are in the pipeline, as Twin Peaks signed two other area development agreements in Q1. Veteran franchisee Joe Nolan signed an ADA to open 10 new franchised lodges across the Philadelphia area, and investor and entrepreneur James Cha agreed to open three new franchised lodges in the Denver area in the coming years.

“Our rapid growth is a testament to how much our fans love the Twin Peaks experience,” said CEO Joe Hummel. “With passionate entrepreneurs like Josh at the helm, our sports bars will continue to thrive from coast to coast.”

For more information on Twin Peaks, visit twinpeaksrestaurant.com.

About Twin Peaks

Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks is nearing 115 locations in the U.S. and Mexico. Twin Peaks is the ultimate sports lodge featuring made-from-scratch food and the coldest beer in the business, surrounded by scenic views and wall-to-wall TVs. At every Twin Peaks, guests are immediately welcomed by a friendly Twin Peaks Girl and served up a menu made for MVPs. From its smashed and seared-to-order burgers to its in-house smoked brisket and wings, guests can expect menu items capable of satisfying every appetite. To learn more about franchise opportunities, visit twinpeaksfranchise.com. For more information, visit twinpeaksrestaurant.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings. Forward-looking statements reflect the expectations of management concerning the future and are subject to significant business, economic and competitive risks, uncertainties, and contingencies. These factors are difficult to predict and beyond our control and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that are filed from time to time by FAT Brands Inc. with the Securities and Exchange Commission, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.