OHG Brands rebuilds leadership after Fat Brands bankruptcy

By Olivia Hart

OHG Brands, formerly Fat Brands, named four executives and put Streetlight Ventures in charge after the debt-heavy company was sold in pieces. OHG now operates much of what remains of Fat Brands outside bankruptcy, including Round Table Pizza, Fazoli’s, Johnny Rockets and several other chains.

A new team and operating agreement

Streetlight Ventures, an investment and operating company run by Anthony Ackil, now manages OHG under a management agreement. FGB Bid Co., the ownership vehicle formed by former bondholders that took over much of Fat Brands, hired Ackil and Streetlight in July, according to court documents. The arrangement separates the ownership company from the group directing brand operations.

Ackil co-founded fast-casual chain B.Good in 2004 and sold it in 2018. He was named Red Robin’s chairman last year. Streetlight began as a consulting business and periodically invests in brands, particularly those in New England.

OHG’s new slate combines four outside appointments with Fat Brands holdovers. The named executives cover operations, marketing, human resources and legal:

• Stephen England, chief operating officer, formerly served as senior vice president at Subway and vice president of operating systems at Dunkin’ Brands.
• Kelly Hansen, chief marketing officer, previously held a marketing role at Raising Cane’s.
• Jose Ponce, chief of staff and head of human resources, previously worked with concepts owned by Restaurant Brands International.
• Artie Jones, general counsel, is a former executive with BJ’s Wholesale Club.

Ackil said: “We’re building a new foundation for these iconic brands, bringing together the leadership, expertise, and resources needed to support their continued growth and carry them forward into the future.” He added that the goal is to show the world how amazing the brands are and give them the support they deserve.

England said: “We are committed to building a high-performing organization that stands behind its franchisees, values, and empowers its employees, and establishes a scalable platform for franchise development.” The statement puts franchise support and organizational scalability at the center of the operating mandate.

How the breakup created OHG

Fat Brands filed for bankruptcy earlier in 2025 under a mountain of debt and was sold in parts. Twin Peaks went to bondholders in one deal, while Hot Dog on a Stick went to Amazing Brands and Elevation Burger went to a company in Kuwait. The remaining businesses went to bondholders and now make up OHG Brands.

Streetlight also works with Burtons Grill & Bar, Anna’s Taqueria, Otto Pizza, Red Head American Tavern, Howling Wolf Taqueria and several other brands. Those relationships do not place those concepts under OHG, but they give its management team experience across additional restaurant formats.

Streetlight and venture capital firm Launchpad Capital recently formed Launchpad Streetlight Acquisition Corp., a publicly traded shell company seeking to take companies public through a reverse merger. The special-purpose acquisition company, or SPAC, targets restaurants, hotels and other hospitality industries. The announcement does not say it will acquire OHG or any Round Table, Fazoli’s or Johnny Rockets unit.

What does this change for franchisees?

For franchisees, the immediate change is the operating team above them, not a disclosed change to menus, prices or labor deployment. England’s pledge centers support for franchisees, employees and a scalable development platform, but it includes no cost-of-goods, labor-percentage or pricing commitments.

The announcement also omits unit counts, sales and check averages for Round Table, Fazoli’s and Johnny Rockets. It does not specify the company-operated versus franchised mix, leaving operators unable to judge whether the reorganization will improve unit economics or reduce their own costs.

The leadership reset also arrives amid weaker chain-restaurant demand. Technomic’s Top 500 analysis found that chain restaurant sales slowed again in 2025 as consumers cut back on dining, while coffee, beverages, snacks and chicken thrived. Those broad sector figures do not establish OHG’s performance after the breakup, but they increase the pressure on its brands to protect traffic and franchisee returns.

The next proof point is whether OHG can turn Streetlight’s operating experience and four executive hires into measurable sales, margin and franchise-support gains.