Burger Merger: Fatburger Owner Is Buying Johnny Rockets for $25 Million

People wait for takeout orders near the closed dine-in section at a Fatburger restaurant in Inglewood, Calif., on July 1, 2020. Mario Tama/Getty Images

Burger lovers, rejoice: FAT Brands, the owner of Fatburger, is buying the 1950s diner-themed chain Johnny Rockets for $25 million.

Like much of the restaurant industry, FAT Brands has been hit hard by the COVID-19 pandemic: The company said last week that sales for the second quarter plunged nearly 50 percent, and its stock was down nearly 25 percent this year before the deal was announced.