Burger Fuel

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BurgerFuel
Public
Traded asNZX: BFW NZX: BFWOA
IndustryRestaurants
Founded1995; 25 years ago (1995) in Auckland, New Zealand
FounderChristopher Mason
HeadquartersPonsonby, New Zealand
Number of locations
87
Key people
Chris Mason, Josef Roberts, Peter Brook, Alan Dunn, Mark Piet, Tyrone Foley
ProductsHamburgers, french fries, wraps, soft drinks, milkshakes, ice cream
Revenue$82,800,000
$18,700,000
ParentBurgerFuel Worldwide Ltd
Websitewww.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]

Menu[edit]

The company 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] The Electric Pūhā burger is vegan and a South-Taranaki business contribute the pūhā and cabbage kraut ingredients.[4]

History[edit]

In 1995, the first Burger Fuel opened in Ponsonby[5], Auckland by Chris Mason. 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.[6] By 2015, the company had over 70 stores.[5]

In January 2020, Te Reo Māori supporters were worried that Burger Fuel's newly-launched 'Hoki Dokey' fishburger could strengthen the incorrect pronunciation of the word hoki.[7]

Expansion[edit]

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.[8] There are two BurgerFuel stores in Al-Khobar, and 3 branches in Riyadh, Saudi Arabia.[9]

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. [10]

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. [11]

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.[12]

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.[13]

Locations[edit]

Burger Fuel operates in seven countries:

It is also looking to expand into Qatar, Libya, Lebanon, and China[16] and include drive thrus.[17] 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.[18] It reopened a store in Baghdad in 2016, but closed the store on 8 January 2020 after Iran attacked two airbases in the country.[19]

See also[edit]

References[edit]

  1. ^ "Former burger flipper's now the boss". Stuff. 14 December 2017. Retrieved 26 December 2017.
  2. ^ "BurgerFuel brings New Zealand's original gourmet burger to Broad Ripple neighborhood". CBS 4 - WTTV. 27 September 2017. Retrieved 26 December 2017.
  3. ^ Gladstone, Nigel (29 September 2014). "Burgers fuel worldwide expansion". Daily Telegraph. Retrieved 27 December 2017.
  4. ^ Jane Matthews (18 October 2019). "South Taranaki business working with BurgerFuel franchise".
  5. ^ a b McCarthy, Phil (27 July 2015). "Burger Fuel heading to "Inverchargrill"".
  6. ^ "Stock takes: BurgerFuel — net gain, market loss". NZ Herald. 7 December 2007. Retrieved 11 March 2011.
  7. ^ Michael Daly (17 January 2020). "The problem with BurgerFuel's new 'Hoki Dokey' burger". Stuff. Retrieved 21 January 2020.
  8. ^ "BurgerFuel lands in Dubai". Stuff.co.nz. Retrieved 11 March 2011.
  9. ^ "BurgerFuel Saudi Now Open!". Sa.burgerfuel.com. Retrieved 11 March 2011.
  10. ^ "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.
  11. ^ "BurgerFuel gets $5.9 mln injection from new US investor to fund global expansion". www.finance.yahoo.com. Retrieved 14 January 2014.
  12. ^ "BurgerFuel shares soar 21pc on US deal". www.nzherald.co.nz. Retrieved 5 June 2015.
  13. ^ https://www.ibj.com/blogs/3-property-lines/post/64031-milktooth-chef-brooks-planning-second-local-restaurant-near-downtown
  14. ^ BurgerFuel Worldwide looks to Indiana for first US store
  15. ^ BurgerFuel to open its 2nd restaurant in the country — and Indy — on Mass Ave.
  16. ^ "Kiwi burgers fuel Middle East". newzealandherald.co.nz. 5 May 2012. Retrieved 5 May 2012.
  17. ^ BurgerFuel goes drive-through The New Zealand Herald
  18. ^ "ISIS forces Kiwi BurgerFuel firm to shut up shop in Iraq". Television New Zealand. 24 October 2014. Retrieved 1 November 2014.
  19. ^ "Burger Fuel pulls out of Iraq as tensions rise in the region". Stuff.co.nz. 8 January 2020. Retrieved 8 January 2020.

External links[edit]