Collins Foods International was a publicly traded American company with more than 240 Sizzler and KFC stores in the United States and Australia.

[citation needed] In 2011, Pacific Equity Partners offered its share of Collins Foods to an IPO, ending PEP's ownership of the company.

As part of the deal, Collins Foods also entered into a development agreement to open more than 20 KFC stores in the country by the end of 2021.

[5] In the mid-1990s Sizzler International was expanding aggressively in the Pacific region; however, domestic sales began to return with losses.

After some major restructuring and paying approximately US$70 million to creditors claims, Sizzler International recovered from the bankruptcy.

[26] In the 2013 financial year, Collins Foods reported stalling revenue for their Sizzler operations in Australia, blaming the downturn of the casual dining sector in the country.

In an investors meeting by Collins Foods, CEO Graham Maxwell states: "We no longer consider Sizzler to be a strategic growth prospect in Australia and therefore we will not be investing further capital".

[29] Collins Foods began to close a limited number of Sizzler restaurants in Australia, with greater focus directed to their KFC operations.

[30] In 2016, Collins Foods operated 21 Sizzler restaurants in Australia, a decrease of two stores compared to the financial year 2016.

[31] In October 2020, Collins Foods announced that it would be closing all nine remaining Australian Sizzler restaurants by 15 November 2020, citing the impact of the COVID-19 pandemic on revenues.

[37] In May 2000, Sizzler International announced it would purchase an 82% stake in the Oscar's restaurant chain for $21 million in cash and stock.

[39] In 2013, Collins Foods acquired a 50% equity stake in Snag Stand, a gourmet sausage chain founded in 2011 by businessperson Philip Blanco.

[40][41][42] In 2016, Collins Foods acquired the remaining 50% equity stake in Snag Stand, making the brand a wholly owned property.