Twin Peaks Prepares for Growth After Monumental Quarter
November 01, 2021 // Franchising.com // LOS ANGELES - Twin Peaks is racing to 2021’s finish line following an exhilarating third quarter ride.
The ultimate sports lodge caught the attention of mega restaurant concept FAT Brands Inc. and was acquired by the company in October for $300 million. The acquisition marked FAT Brands’ entry into the polished casual dining category, which Twin Peaks is continuing to lead, according to Knapp-Track. The data analytics company ranked Twin Peaks as one of the top five restaurants in the casual dining segment for all of 2021, including July, August and September.
“Twin Peaks has undoubtedly been impressing people,” said Twin Peaks CEO Joe Hummel. “We caught the eye of FAT Brands, and we’re excited to show them everything our brand is capable of.”
The company opened two lodges in Cypress Creek, Florida and Bryan, Texas, as well as expanded in Latin America with the opening of its second Mexico City restaurant. For the remainder of 2021, Twin Peaks has six more openings coming down the pipeline. Three of the new stores slated to open are a result of Twin Peaks adding to its longstanding presence in the Lone Star State by launching corporate store expansion in Amarillo, Burleson, and Grand Prairie, Texas.
“While Twin Peaks has only been a part of FAT Brands for a month, we couldn’t be more impressed with their incredibly strong performance as of recent,” said FAT Brands CEO Andy Wiederhorn. “We look forward to building upon their strong development pipeline to deliver the iconic Twin Peaks experience to even more guests across the globe.”
The brand signed a franchise deal in July with Ricky Warman and Mike Cothern to bring the sports viewing experience to Daytona Beach. Warman, a well-established franchisee for other brands such as First Watch, Papa John’s and an existing Twin Peaks in Fort Myers, Florida, expects to open three new lodges in the area, with the first of the new restaurants expected to open in fall of 2022.
To jump start the final quarter, Twin Peaks recently executed an area development agreement with the prolific franchise group VegasTP Inc. to develop four lodges in Las Vegas and Reno. The company also expects to ink three more franchise deals for a total of almost 30 stores throughout the Gulf Coast, Tampa and Philadelphia.
As the go-to destination for the ultimate gameday experience, Twin Peaks’ culinary team has been consistently leaning into menu innovation to fuel fans with their favorite made-from-scratch food. The brand kicked off football season with the launch of shareable Loaded Fries, spicy meatball sandwich and appetizer, new wing sauces and more, which have become fan favorites. Looking into Q4, Twin Peaks plans to level up its dining experience even further with more delicious food and beverage offerings. The brand is currently testing flatbreads in several locations and anticipates that with the addition of pizza ovens, flatbreads could become a staple in all of its stores in the future. Twin Peaks is also working on its virtual concept – Good as Cluck – and will test Crispy and Street Tacos, Cinnamon Toast Crunch Cheesecake and S’mores Chocolate Cake in select markets across the country.
SOURCE Twin Peaks
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