Tulla Group acquires 60% stake in SumoSalad
It sees significant opportunities to invest and grow the business.
Investment firm Tulla Group has agreed to acquire a 60% stake in SumoSalad and aims to expand the brand's presence throughout Australia.
Mark Maloney, CEO of Tulla Group, said, “As an established and well known healthy fast food brand, we see significant opportunities to invest and grow the business, including boosting the number of stores in key locations and offering a greater choice of healthy food.”
SumoSalad was established by Luke Baylis and James Miller in 2003 and opened its first store in Liverpool Street, Sydney. SumoSalad has since expanded to 86 stores nationally and has a strong presence in most major Australian capital cities and regional centres.
Mr Maloney said SumoSalad aimed to roll out at least 15 new stores each year, with aspirations for 300 stores, targeting high street and CBD locations.
Luke Baylis, CEO of SumoSalad, said: “Tulla Group has a strong understanding of our business and shares our vision and values. Our mutual priority will be to maintain our high level of customer satisfaction as this is integral to our success.”
Retaining a 40% stake in the company, Mr Baylis will remain CEO and part owner of SumoSalad, with Mr Maloney as the company’s Chairman.
