61.3 F
Laguna Hills
Monday, Nov 28, 2022
-Advertisement-

NZ Operator Wants Taco Bell at Home

Restaurant Brands New Zealand Ltd. said in an investor presentation and in a news report it wants to buy a Taco Bell franchise group on the U.S. mainland, bring the brand to New Zealand, and expand the chain in Australia.

New Zealand has no Taco Bell locations; Australia has one.

The Auckland-based company is master franchiser in New Zealand for Irvine-based Taco Bell’s sister chains KFC and Pizza Hut—the three are owned by Louisville, Ky.-based Yum Brands Inc.—and for Carl’s Jr. and Starbucks.

Restaurant Brands runs 314 restaurants; 75% are in New Zealand and Australia; the rest originate from 82 Pizza Huts and Taco Bells it bought in Hawaii last year for about $125 million.

Chief Executive Russel Creel told a local news outlet the U.S. West Coast looks good after its Hawaii expansion, and Texas is another candidate. He wants Taco Bell franchisees with “70 to 100 stores at a time,” the report said.

New Zealand is an option given the company’s master franchising there and Australia could be next.

Restaurant Brands reported 2017 annual sales of $544 million and net profit of $26 million. It trades on the New Zealand All Index at a $642 million market cap and said it can hit $1 billion in sales within five years.

Australia in November saw the opening of its first Taco Bell, this one by Queensland-based Collins Foods Ltd, the country’s largest KFC franchisee.

Collins was planning its second Taco Bell location by June, and third by the end of the year in the Mexican-themed fast food giant’s third foray there.

Two other efforts, in 1981 and between 1997 and 2005, were shut down.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-