MAGIC GOBBLES UP FATBURGER FAST-FOOD CHAIN.Byline: Brent Hopkins Staff Writer Legendary Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Laker-turned-entrepreneur Earvin ``Magic'' Johnson, a Fatburger customer for 20 years, has placed the ultimate to-go order: He's buying the whole chain, fat fries and all. Terms of the deal were not announced Monday, but Johnson was more than happy to discuss why his Johnson Development Corp. has been courting the Santa Monica-based chain for more than two years. ``This is the best burger in town, but it's been undermarketed,'' said Johnson, adding that his own favorite is the turkey burger. ``We're going to make it a household name (nationwide) and let people know about this great hamburger they've never heard of.'' Ever since Lovie Yancey flipped her first patty in 1952, the chain has been a cult favorite in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , second only in name recognition to In-N-Out Burger In-N-Out Burger is a privately owned and operated fast food restaurant chain in the Western United States. Founded in 1948 and headquartered in Irvine, California, In-N-Out Burger has since expanded to Arizona and Nevada, and has announced plans to build in southern Utah. . Fatburger has changed hands a number of times, and now the owner is an investment firm backed by music industry mogul Chris Blackwell Chris Blackwell (born June 22, 1937) is the founder of Island Records. Born in London to an Irish father and a Costa Rican-born Sephardic Jewish mother, Blackwell spent his childhood in Jamaica. He was sent to England to continue his education. , former owner of Island Records. In its 49 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time chain has expanded from two restaurants to 47 - most of them in Southern California. Seven are in the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. , one is in Simi Valley Simi Valley (sē`mē, sĭm`ē), city (1990 pop. 100,217), Ventura co., SW Calif. in an oil, fruit, and farm region; laid out 1887, inc. 1969. and one in Lancaster. Last year the company earned $13 million on $33 million in sales, said Richard Martin The name Richard Martin can refer to different people:
The fat in the name has nothing to do with what's in the burgers. In the 1950s ``fat'' was slang for ``successful'' - as in fat cat. Johnson plans aggressive expansion, adding 100 more stores within five years. At the end of the rollout, which he says will be accomplished with a manageable 20 stores per year, the Fatburger logo will be displayed nationwide. Industry analysts praised the acquisition as a good match between an owner with the former Lakers See Lake poets star's name recognition and a company. ``Magic is an All-American guy, and what's more American than a big, juicy, dripping burger?'' said Andy Harris, West Coast representative for the James Beard Foundation The James Beard Foundation is a New York-based national professional non-profit organization named in honor of James Beard that serves to promote the culinary arts by honoring chefs, wine professionals, journalists, and cookbook authors at annual award ceremonies and providing , a culinary arts institute. ``This is a definitely a good thing. Magic Johnson's name is so golden in this country (that) there isn't a young person who doesn't know him. That's very powerful.'' Though he won't attach his name to the chain, as he did with his two TGIFriday's restaurants, Johnson will be a powerful spokesman, said Martin. ``If you've got an icon that people identify with, it's a lot more compelling than Ronald McDonald,'' Martin said. ``You've got a hero, someone closely related to the consumer demographic.'' Though the chain was founded by an African-American businesswoman, Martin said the acquisition likely would strengthen Fatburger's ties to the African-American community. Johnson said the chain would continue to expand to urban markets, but would also focus on suburban openings, as it has in Seattle and Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. . Johnson Development Corp. also owns 35 Starbucks shops nationwide, the two Magic Johnson's TGIFriday's, a gym and a theater chain. Johnson said he wouldn't alter the restaurant's feel once his company takes over. ``We're not going to change it too much,'' he said during a telephone interview. ``It's been successful for over 30 years, so you know they're doing something right. We're going to do what we know best: Cook hamburgers.'' For fans of the chain, having Johnson and funding from heavyweight GE Capital Franchise Finance can only be good news, Martin said. ``For people who love Fatburger it would be a good thing,'' he said. ``He's got the resources to expand and make the franchise a lot bigger. He's a smart businessman, so I'm sure his company would be able to figure out if this was a good investment.'' As far as Johnson is concerned, this is a tasty investment opportunity. ``I go there all the time.'' He laughed. ``I'm a turkey burger kind of guy, though. I love that on the grill. I'm not one for fried foods, but once you get it cooked to order, man, that's a great thing.'' CAPTION(S): photo Photo: (color) JOHNSON |
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