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LEGAL | Staff Reporter, Australia
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Guzman y Gomez moves closer to eyed IPO

The chain recently opened its 140th overall store.

Guzman y Gomez (GYG) has moved closer to a planned initial public offering, months after reaching a cumulative $1 billion in network sales.

The Australian Financial Review first reported that documents filed with the Australian Securities and Investments Commission indicated that the Mexican-inspired chain converted to an unlisted public company from a proprietary company.

An IPO has been in the cards for GYG for years, with founder & global CEO Steven Marks revealing such plans in previous interviews.

Guzman y Gomez also recently opened its 140 overall store in Kotara in Newcastle, NSW. 

The company, which is currently chaired by former Kmart managing director and McDonalds Australia CEO Guy Russo, secured a $44 million investment from TDM Growth Partners two years ago to accelerate growth.

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