Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Burgerfuel Inks Big American Deal

Wednesday 26th February, 2014

BurgerFuel Worldwide (BFW) shareholders have voted with a resounding yes to the ratifi cation of the agreement between BurgerFuel Worldwide (BFW) and American company Franchise Brands, LLC (FB).

Voting occurred at the BFW Extraordinary General Meeting today, attended by a strong representation of its shareholders.

The initial announcement of the deal in January 2014 saw BFW shares more than double in the days following.

FB will join BFW as shareholder and franchise advisor.

FB was created in 2005 with the support and guidance of the founders of SUBWAY® restaurants, Fred DeLuca and Dr.

Peter Buck, in order to invest in and off er guidance to small and mid-market companies with experienced management that are seeking to expand their businesses.

SUBWAY® restaurants is the largest single brand restaurant chain in the world with over 40,000 franchised stores in more than 100 countries.

FB will collaborate with BFW to help grow the business by providing knowledge and support as well as global development opportunities, including in the United States where BurgerFuel plans to open restaurants.

FB will take an initial 10% stake in BFW with an option to increase its holding up to 50% over 8 years.

BFW Chairman Peter Brook said: “Clearly our shareholders can see the merits of such a large global relationship.

The Franchise Brands deal is an incredible milestone that will provide valuable links to existing Subway franchisees who are looking to extend their portfolios.

This will drive significant value for

BFW, as has been evidenced in the share price of late”.

BFW Group CEO Josef Roberts commented: “A deal like this takes a considerable amount of time, energy and resource to get over the line and we’re thrilled that as of today our management team can once again focus on opening restaurants and delivering more growth and value to our shareholders.

We’re looking forward to working closely with the Franchise Brands team to maximise the Subway opportunity”.

BurgerFuel Founding Director Chris Mason added: “The approval of the deal today by our shareholders supports our original vision to take New Zealand’s built fresh, gourmet burgers to the world.

Now that we’re well established in the Middle East I’m excited to get to work on opening our first stores in the USA”.

BurgerFuel Worldwide (BFW) is publicly listed on the NZ Stock Exchange as a NZAX company and has been listed since 2007.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news