The
Oporto franchise network of 104 stores has been sold to Quick Service Restaurant Holdings for $60m, a purchase that puts the Portuguese-style chicken and
burger chain alongside Chicken Treat and Red Rooster, both brands operated by QSR subsidiary Australian Fast Foods.
The acquisition will increase store distribution to 540 outlets, comprising more than 300 company-owned and 240 franchise outlets across the three brand networks in Australia and New Zealand. This will make QSR Holdings the largest Australian owned chicken fast food retailer in Australia with 50 further openings planned for this financial year.
Oporto management team led by Jeff Fisher and Glen Lees will continue to lead the Oporto business. CEO Jeff Fisher told Franchising magazine "the key benefit for Oporto franchisees from the merger should be in the area of supply chain efficiencies and it is important to note that the three brands involved in the group will continue to be developed as individual brands by their existing management teams."
QSR Holdings' managing director Frank Romano said "the strategic acquisition of Oporto allows the group to aggressively pursue its growth strategy and increasingly dominate the fast food chicken market in Australia along with providing multiple platform opportunities in New Zealand and other overseas markets. The expanded group will now serve in excess of 60 million customers per annum and employ more than 14,000 staff through its company and franchise network."
Oporto was founded by Antonio Cerqueira and opened its first store in 1986 in North Bondi Sydney, celebrating his Portuguese heritage serving its now famous Bondi Burger with Oporto's legendary chilli sauce.
This article appears courtesy of Oporto.
18-Sep-2007