Beverly Hills-based Fat Brands Inc. said it will acquire Global Franchise Group from Serruya Private Equity Inc. and Lion Capital for $442.5 million in cash and stock.

New York-based Global franchises and operates quick service restaurant concepts Round Table Pizza, Great American Cookies, Hot Dog on a Stick, Marble Slab Creamery and Pretzelmaker.

The deal, which is expected to close by the end of June, will increase the number of Fat Brands’ franchised and company-owned restaurants to 2,000 and give the company combined annual system-wide sales of approximately $1.4 billion.

Fat Brands' roster of franchises includes Johnny Rockets, Fatburger, Buffalo’s Cafe, Buffalo’s Express, Hurricane Grill & Wings, Ponderosa and Bonanza steakhouses, Elevation Burger, and Yalla Mediterranean.

The company currently has about 50 restaurants in Los Angeles County and another 650 worldwide.

“This acquisition is a key strategic milestone for Fat Brands,” Chief Executive Andy Wiederhorn said in a statement. “The five new restaurant concepts have been very resilient coming out of the pandemic and will complement our existing brands. Furthermore, we will acquire GFG’s manufacturing operations, which will provide greater efficiencies and incremental revenue opportunities to our company.”

In preparation for the acquisition, Fat Brands beefed up its executive team last month. New hires included Allen Sussman as general counsel, Ken Kuick as chief financial officer and Rob Rosen as EVP of capital markets.

The company reported revenue, which includes royalties, franchise and advertising fees, of $6.6 million in the first quarter, compared to $4.4 million in the same period in 2020. It also reported a net loss of $2.4 million, about the same as during the first quarter of last year.