The story
Founding and early growth
Fazoli's originated in Lexington, Kentucky, in 1988 as a restaurant concept developed by Jerrico, Inc., then the parent company of Long John Silver's and several other restaurant chains. The first location opened in September 1988 under the name Gratzi's and was renamed Fazoli's in 1989.
In 1990, Seed Restaurant Group, led by former Jerrico executive Kunihide "Kuni" Toyoda, acquired the five existing Fazoli's restaurants. Under Toyoda's ownership, the chain expanded rapidly during the 1990s and early 2000s.
By 2006, Fazoli's had grown to 319 restaurants in 32 states.
Sun Capital and Sentinel Capital ownership
In 2006, Fazoli's was acquired by an affiliate of Sun Capital Partners. During Sun Capital's ownership, the company remodeled restaurants, revised its menu and made changes to its management and operating structure.
Sentinel Capital Partners acquired Fazoli's in July 2015. At the time, the chain operated 213 restaurants in 26 states, consisting of 124 company-operated restaurants and 89 franchised locations. The acquisition followed several years of same-store sales growth and a turnaround effort led by the company's management.
FAT Brands ownership
On November 2, 2021, FAT Brands announced an agreement to acquire Fazoli's from Sentinel Capital Partners for $130 million. The acquisition was completed on December 15, 2021. FAT Brands subsequently reported a total cash purchase price of approximately $137.1 million.
At the time of the acquisition, Fazoli's operated approximately 220 restaurants in 28 states.
2026 restructuring and OHG Brands
FAT Brands filed for Chapter 11 bankruptcy protection in January 2026. During the bankruptcy proceedings, the company's restaurant assets were sold or transferred to several buyers. FBG Bid Co. acquired substantially all of the assets associated with Fazoli's and several other FAT Brands restaurant concepts in a transaction that closed in June 2026. In July 2026, a federal bankruptcy court approved FAT Brands' liquidation plan following the sale and transfer of its restaurant assets.
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On September 30, 2026, FBG Bid Co. announced the formation of OHG Brands, a restaurant franchising company whose portfolio includes Fazoli's, Round Table Pizza, Fatburger, Johnny Rockets, Great American Cookies, Marble Slab Creamery, Pretzelmaker, Hurricane Grill & Wings, Native Grill & Wings, Buffalo's Cafe & Express, and Ponderosa and Bonanza Steakhouses.
From Wikipedia’s article on Fazoli's, shared under CC BY-SA 4.0.4