craveable brands. releases statement on IPO withdrawal

craveable brands released the following statement.

The largest Australian owned quick service restaurant operator craveable brands., today announced that the proposed listing of the company on the ASX had been withdrawn.

The decision was taken due to current conditions in the local equity market, including the broader sentiment weighing down the overall retail sector.

craveable brands. continues to have strong momentum across its business and will focus on its growth strategy of expanding its home delivery offering, rolling out new restaurants and through international master franchise arrangements.

craveable brands. operate more than 570 restaurants across three iconic Australian brands – Red Rooster, Oporto and Chicken Treat. The restaurant network employs more than 12,500 people and serves more than 150,000 customers a daily.

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