Fatburger, started nearly 60 years ago and known as a celebrity hangout, has 150 restaurants and additional 300 stores either under construction or in development across the U.S. and internationally. Last year the company's system-wide sales totaled $100 million, up 22% from 2011.
It clearly intends to repeat their success on the West Coast and elsewhere in New York City through its partnership with the Riese Organization, a large restaurant management company in New York that has approximately 50 restaurants in its portfolio including such brands as T.G.I. Friday's, Tim Horton's (THI), Yum! Brands (YUM - Get Report) Pizza Hut and KFC. The Riese Organization has also developed its own proprietary concepts including Tad's Steaks and Tequilaville, according to its Web site.
The first Fatburger restaurant, located in Manhattan's Murray Hill area, will also feature a full-service bar and is open to 1am. At the same time as the store's opening, Fatburger also recently began selling its signature frozen beef patties in 3,100 Wal-Mart Stores (WMT - Get Report) across the U.S. Also see: Fatburger CEO: We'll Survive The Better Burger Shakeout TheStreet had a chance to talk with Fatburger CEO Andy Wiederhorn at the restaurant's newest location. An edited transcript follows. Does Fatburger have appeal outside of the West Coast? Wiederhorn: The brand has been in the East Coast before. We're in Atlantic City, Washington, D.C. and Florida. This is really the burger that everyone likes. It's Hollywood's favorite burger. Bringing it to the East Coast is exciting.