New Australian food franchise group to list on ASX
A new food franchising group based in Brisbane is set for rapid Australian expansion in 2017.
‘Franchise Retail Brands’ was launched out of Brisbane in August 2016 with four quick service restaurant businesses to its name – Sabatini’s café and bar, 1582 coffee, Dessert House and Crave ice cream.
Later in 2016, Franchise Retail Brands acquired New York Slice Pizza and Hombre Street Food Café and Bar.
The business is expected to float on the Australian Securities Exchange (ASX) in the 2018 financial year, with plans to add another two-five brands by this point. Franchise Retail Brands aims to raise AUD $20 million to float on the ASX.
“Hospitality is protected”
One of the significant investors and Managing Directors in the business, Sean Corbin, said business is already tracking well ahead of its goals.
“Food and coffee is a growth area in Australia, in particular the QSR franchise market, and unlike other retail offerings that can be replicated online – hospitality is protected, thus providing us with appreciable room to expand,” he said.
Corbin said Franchise Retail Brands has a focus on offering healthier menu options and trend-food specific dining.
“Dessert House and Crave both focus on the fast-casual dessert niche which shows no sign of slowing down, while Sabatini’s provides a relaxed dine-in restaurant offering in fringe suburbs with an expansive menu to appeal to the masses,” he said.
Franchise Retail brands hopes to open at least two stores per new brand in 2017 in the Eastern states of Australia, as well as growing its recently acquired Hombre Street Food Café and Bar and New York Slice.
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