Burger Fuel

BurgerFuel
Public
Traded as NZX: BFW NZX: BFWOA
Industry Restaurants
Founded 1995 (1995) in Auckland, New Zealand
Founder Christopher Mason
Headquarters Ponsonby, New Zealand
Number of locations
 87
Key people
 Chris Mason, Josef Roberts, Peter Brook, Alan Dunn, Mark Piet, Tyrone Foley
Products Hamburgers, french fries, wraps, soft drinks, milkshakes, ice cream
Revenue $82,800,000
$18,700,000
Parent BurgerFuel Worldwide Ltd
Website www.burgerfuel.com

BurgerFuel is a New Zealand burger restaurant and franchise with 88 locations in six countries (plus 1 mobile location unit), including 54 locations in New Zealand.[1] Its menu consists of typical fast-food fare such as hamburgers, beef and chicken dishes, and fries, as well as vegetarian and vegan dishes.[2][3]

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History

In 1995, the first Burger Fuel opened in Auckland. In 2007, Burger Fuel Worldwide publicly floated on the NZX. The company directors were hoping to generate $15 million from the IPO; however, they ultimately raised slightly over a third of that.[4]

Expansion

On 5 May 2008, Burger Fuel Worldwide announced it had agreed to its first Master franchise agreement with Dubai based Al Khayyat Investment Group Investments LLC. They set up, and operated stores in Dubai, UAE by the end of the year. Dubai is considered to be a high-profile city for BurgerFuel.[5] There are two BurgerFuel stores in Al-Khobar, and 3 branches in Riyadh, Saudi Arabia.[6]

BurgerFuel has won the "Franchise Export" of the Year award at the Westpac New Zealand Franchise Awards 2012. The judges praised BurgerFuel for not just selling high quality, gourmet products, but also for developing the company into a specialist exporter which sources raw materials from New Zealand wherever possible. The products that BurgerFuel send overseas are extensive, exporting anything from their 100% pure New Zealand grass-fed beef to a complete store fit out, ensuring that the products and service they provide their customers, remains of a consistently high quality standard, in all export countries. [7]

On 14 Jan 2014, Burger Fuel Worldwide announced a $5.9m injection from new US investor - Milford, Connecticut-based Franchise Brands (backed by Subway founders Fred DeLuca and Peter Buck) to fund global expansion. The purchase is for 10% of the company with the option to raise this to 50% over 8 years. They plan to assist with BurgerFuel expansion particularly into the US market. Burger Fuel Worldwide shares immediately leapt 80% as a result to an all-time high of $2.70 per share. They have since reached a high of $3.15 per share valuing the company at over $170m. Subsequently, it has risen to be worth over $200m placing it as the most valuable company on the NZAX market. [8]

On 4 November 2014, Burger Fuel Worldwide passed NZ$200m (US$156m) market capitalization on the New Zealand Exchange for the first time and closed at NZ$226m (US$176m) which is a new record for Burger Fuel Worldwide.

On 4 June 2015, Burger Fuel Worldwide announced a partnership with California-based franchisor OhCal Foods as part of its plan to break into the US market. OhCal Foods services more than 2100 Subway restaurant outlets in the United States. Its share price immediately leapt 21% on the news.[9]

Following the death of Subway founder Fred DeLuca, Burger Fuel Worldwide has decided to enter the US market alone.

On 29 May 2017, BurgerFuel opened their first United States restaurant in Indianapolis. They are searching for more expansion opportunities in this market.[10]

Locations

Burger Fuel operates in seven countries:

It is also looking to expand into Qatar, Libya, Lebanon, and China[11] and include drive thrus.[12] Expansion has begun in the South Island of New Zealand with the opening of a franchise in Christchurch. With the investment by US based Franchise Brands they are looking to enter into the US market with plans to open up to 1000 restaurants there. On 20 October 2014, Burger Fuel announced that they would be adding 5 more Australian stores by 31 March 2015 in Sydney, Brisbane and Gold Coast. By the end of 2018 no stores remained open in Australia.

On 24 October 2014, BurgerFuel closed its Iraq operations due to the growing threat of ISIS.[13] It has since reopened a store in Baghdad in 2016.

See also

References

  1. ↑ "Former burger flipper's now the boss". Stuff. December 14, 2017. Retrieved December 26, 2017.
  2. ↑ "BurgerFuel brings New Zealand's original gourmet burger to Broad Ripple neighborhood". CBS 4 - WTTV. September 27, 2017. Retrieved December 26, 2017.
  3. ↑ Gladstone, Nigel (September 29, 2014). "Burgers fuel worldwide expansion". Daily Telegraph. Retrieved December 27, 2017.
  4. ↑ "Stock takes: BurgerFuel — net gain, market loss". NZ Herald. 2007-12-07. Retrieved 2011-03-11.
  5. ↑ "BurgerFuel lands in Dubai". Stuff.co.nz. Retrieved 2011-03-11.
  6. ↑ "BurgerFuel Saudi Now Open!". Sa.burgerfuel.com. Retrieved 2011-03-11.
  7. ↑ "BurgerFuel has won the "Franchise Export" of the Year award at the Westpac New Zealand Franchise Awards 2012". www.burgerfuel.com. Archived from the original on 8 February 2013. Retrieved 21 November 2012.
  8. ↑ "BurgerFuel gets $5.9 mln injection from new US investor to fund global expansion". www.finance.yahoo.com. Retrieved 2014-01-14.
  9. ↑ "BurgerFuel shares soar 21pc on US deal". www.nzherald.co.nz. Retrieved 2015-06-05.
  10. ↑ https://www.ibj.com/blogs/3-property-lines/post/64031-milktooth-chef-brooks-planning-second-local-restaurant-near-downtown
  11. ↑ "Kiwi burgers fuel Middle East". newzealandherald.co.nz. 2012-05-05. Retrieved 2012-05-05.
  12. ↑ BurgerFuel goes drive-through The New Zealand Herald
  13. ↑ "ISIS forces Kiwi BurgerFuel firm to shut up shop in Iraq". Television New Zealand. 24 October 2014. Retrieved 1 November 2014.
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