,Australia

Guzman y Gomez ramps up preparations for IPO: report

Offer documents may be ready by the first half of 2021.

Guzman y Gomez has asked investment bankers and lawyers to start paperwork on its planned initial public offering that could potentially value it at more than $500 million.

The Australian Financial Review reported that the chain’s board, led by ex-Kmart and McDonald’s Australia executive Guy Russo, has mandated Morgan Stanley and law firm Gilbert + Tobin to “ramp up the preparations” and “have the formal offer documents and pitch to potential investors ready as soon as the first half of next year.”

Guzman y Gomez has 125 stores in Australia, along with outlets in Singapore, Japan and the United States.

QSR Media has sought Guzman y Gomez for comment but the chain has not responded as of press time.
 

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