Taco Bell Operator Plans 50 in Australia
"Collins Foods Ltd. will open 50 Taco Bell locations in three years in three states in Australia.
Irvine-based Taco Bell is the largest restaurant chain based in Orange County with annual sales of about $10 billion. It has about 7,000 locations, about 350 of them overseas; it wants 9,000 units including 1,000 overseas by 2022 as it aims for $15 billion in sales.
It’s owned by Yum Brands in Louisville, which also owns KFC and Pizza Hut. Yum traded recently at a $28 billion market cap. Taco Bell has been choosing larger, well-funded and experienced operators overseas to push expansion.
Queensland-based Collins is a publicly traded—$333 million (USD)—restaurant operator; it opened one Taco Bell in 2017 and plans three more by year-end. The new development deal pledges 50 more locations between 2019 and 2022."
Read the full article by Paul Hughes here.
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