Guess which American investor linked up with BurgerFuel
The brand revealed plans of expanding in the US.
BurgerFuel Worldwide (BFW) inked a deal with Franchise Brands, LLC, a US Company established in 2005 with the help of SUBWAY restaurants founders, Fred DeLuca and Dr. Peter Buck.
BurgerFuel revealed plans of launching stores in the United States, and the collaboration with Franchise Brands would see to the brand’s growth, providing knowledge, support, and global development opportunities.
“Our vision and objective was always to develop the brand globally and build a big business. We want to make BurgerFuel a household name around the world like it is in New Zealand and like it’s becoming in the Middle East. We’re only just getting started,” said Chris Mason, Founding Director of BurgerFuel.
The brand noted that BurgerFuel would still remain as a publicly listed New Zealand company and would still hold control over its brand and operating style.
Moreover, the agreement highlights that Franchise Brands would buy an initial 10% stake in BurgerFuel Worldwide, along with an option to raise its holding up to 50% over eight years.
The 10% stake consists of a $5.9M placement of new BurgerFuel Worldwide shares and the purchase of $2.16M of shares from Mason Roberts Holdings, which is the largest BFW shareholder.
“This is extremely positive for the future of BurgerFuel. It’s an incredible opportunity for the company and very exciting for all our shareholders.
“Bringing on board a strategic investor with major distribution, experience and unsurpassed global reach will drive significant value for BFW over the coming years. We are delighted for all of our shareholders,” added Peter Brook, Chairman of BurgerFuel Worldwide.
