DivestmentJun 18, 2026, 01:41 PM
Twin Hospitality Sells Hot Dog on a Stick, Elevation Burger Assets
AI Summary
Twin Hospitality Group Inc. completed the divestment of substantially all of its assets through a court-approved bankruptcy auction. On May 19, 2026, the company entered into purchase agreements, including the sale of its "Hot Dog on a Stick" assets for $8 million and "Elevation Burger" brand assets for $2.5 million. Additional assets, including FAT Brands Assets and Twin Peaks Assets, were also sold to other provisional winners as part of the company's Chapter 11 bankruptcy proceedings.
Key Highlights
- Bankruptcy Court approved bidding procedures on April 9, 2026.
- Auction for substantially all assets held on April 27, 2026.
- Court authorized entry into four Purchase Agreements on May 19, 2026.
- "Hot Dog on a Stick" assets sold for $8,000,000 cash.
- "Elevation Burger" brand assets sold for $2,500,000 cash.
- FAT Brands Assets sold to FBG Bid Co. LLC.
- TWNP Assets (Twin Peaks) sold to TWNPKS Bid Co. LLC.
- Backup bid for Round Table Pizza assets was $44,000,000.
Price Impact
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