Burger Fuel
| Public | |
| Traded as | NZX: BFW NZX: BFWOA |
| Industry | Restaurants |
| Founded | 1995 in Auckland, New Zealand |
| Founder | Chris Mason |
| Headquarters | Ponsonby, New Zealand |
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 | $66,200,000 |
| $14,400,000 | |
| Parent | BurgerFuel Worldwide Ltd |
| Slogan | Engineering the Ultimate Burger |
| Website | BurgerFuel.com |
BurgerFuel is a New Zealand gourmet burger restaurant with 73 locations in six countries (plus 1 mobile location unit), including 40 locations in New Zealand. BurgerFuel sells burgers (beef, wagyū, chicken, gluten-free, vegan and vegetarian) Spud (Potato) fries, Beer Battered Fries (as a promotion), kumara fries, bottled soft drinks, milk / maltshakes and its own branded ice cream (Frostbite).
Menu
BurgerFuel burgers are famous for their special aioli sauce, freshness, taste and for the patented Doofer, a folding cardboard burger-holder. BurgerFuel as a gourmet burger chain focuses on many niche areas: Items such as vegan / vegetarian food, gluten-free, free range as well as some organic food products. BurgerFuel has been careful to try to make their menu healthier than a lot of their competition (by reducing salt, sugar, additives).[1] Burger names have an automotive theme.
BurgerFuel also has a secret menu which includes the Greedy Bastard burger (extra 1/3lb beef patty and slice of cheese) and the Ultimate Greedy Bastard burger (extra 1/3lb beef patty, chicken breast, egg, slice of cheese).
History
In 1995 the first Burger Fuel was opened in Auckand. 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 a little over a third of that.[2]
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 will set up, and operate stores in Dubai, UAE by the end of the year. Dubai is considered to be a high profile city for BurgerFuel.[3] There are two BurgerFuel stores in Al-Khobar, Saudi Arabia.[4]
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. [5]
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. [6]
On 04 Nov 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.
Locations
Burger Fuel operates in six countries:
- New Zealand 40 (Auckland 21, Wellington 7, rest of North Island 11, Christchurch 1)
- Australia 6 (Sydney 3, Brisbane 2. Gold Coast 1)
- United Arab Emirates 14 (Dubai 10, Abu Dhabi 4)
- Saudi Arabia 9 (Riyadh 4, Eastern Province 5)
- Egypt 2
- Kuwait 2
It is also looking to expand into Qatar, Libya, Lebanon, and China[7] and include drive thrus.[8] Expansion has begun in the South Island of New Zealand with the opening of a franchise in Christchurch and is set to continue along with expansion in Australia. 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 will be adding 5 more Australian stores by 31 March 2015 in Sydney, Brisbane and Gold Coast.
On 24 October 2014, BurgerFuel closed its Iraq operations due to the growing threat of ISIS.[9]
References
- ↑ "Engineering the Ultimate Burger:". BurgerFuel.
- ↑ "Stock takes: BurgerFuel — net gain, market loss". NZ Herald. 2007-12-07. Retrieved 2011-03-11.
- ↑ "BurgerFuel lands in Dubai". Stuff.co.nz. Retrieved 2011-03-11.
- ↑ "BurgerFuel Saudi Now Open!". Sa.burgerfuel.com. Retrieved 2011-03-11.
- ↑ "BurgerFuel has won the "Franchise Export" of the Year award at the Westpac New Zealand Franchise Awards 2012.". www.burgerfuel.com. Retrieved 2012-11-21.
- ↑ "BurgerFuel gets $5.9 mln injection from new US investor to fund global expansion.". www.finance.yahoo.com. Retrieved 2014-01-14.
- ↑ "Kiwi burgers fuel Middle East". newzealandherald.co.nz. 2012-05-05. Retrieved 2012-05-05.
- ↑ BurgerFuel goes drive-through The New Zealand Herald
- ↑ "ISIS forces Kiwi BurgerFuel firm to shut up shop in Iraq". Television New Zealand. 24 October 2014. Retrieved 1 November 2014.