Archer Capital's Peter Gold on their acquisition of QSRH
It was a surprise move in the industry, so read this exclusive interview to find out what we can expect from the new owners.
We asked Peter the following questions:
QSRMedia: Why has Archer Capital purchased QSRH?
Peter: We are attracted to QSRH because it is the largest Australian owned QSR business that owns its own IP and brands. In partnership with management, Archer will continue to improve and grow the business. We’re not thinking about an IPO now, but this could be a possibility in a few years time after we’ve improved the business further. For now we are focussed on growing the businesses in 3 main ways.
Firstly we see quite significant opportunity to improve the customer experience. After completion of the transaction we will agree on the strategy with management, but we expect to improve the menu offering across all brands. We want to make sure people have better options , wider options, tastier and healthier food.
Secondly we aim to improve support to franchisees, they are part of the family and we want to ensure they have the tools and support to grow their businesses.
Thirdly we plan to increase the network, there are 620 stores at the moment and we see significant scope to increase this both domestically and internationally. Red Rooster for example is very strong in WA and QLD, but there is potential to expand the footprint significantly in NSW.
QSRMedia: What are your plans for the group?
Peter: There is no precise strategy as yet, apart from our general plans outlined above. When the transaction is completed on 30th June, we will sit down with Management and complete a 100 day plan to decide priorities and action steps. After 100 days we will have a clearer picture.
QSR Media: $450 million has been reported as the purchase price, is this correct?
Peter: No comment on the record
QSR Media: What is Archer Capital's management style?
Peter: We will leave the day to day management with current QSRH Senior Executives. Our involvement is more from board level. We are active in supporting management teams in achieving their objectives.
QSR Media: Any other comments?
Peter: We are pretty excited about where the business can go and look forward to future success.
