Saturday, 18 August 2018

Announcement

GENERAL: BFW: BFW Buys "Winner Winner" Brand

18 Dec 2017 13:36NZX
BFW has today announced the addition of a new brand to the Group, with the
acquisition of the Intellectual Property rights to the ''Winner Winner'' brand
- a NZ based gourmet chicken concept.

BFW has previously signalled interest in expanding into other concepts within
the NZ market as it begins to reach capacity with the number of BurgerFuel
outlets in NZ now sitting at 55.

BFW has purchased the Intellectual Property rights to Winner Winner, with
view to becoming the concept Franchisor. Winner Winner currently has one
store in Hamilton. This outlet has not been purchased by BFW. It will
continue to be operated by the founders of Winner Winner, but will now become
the first franchised store under BFW.

BFW NZ Business Development Manager, Craig Notman, comments, "We are excited
to welcome Winner Winner to the Group. The team there have developed a great
brand and it''s a concept that we see potential in taking further".

"As the owners of the brand, we''ll be looking to strengthen the business
model and prepare it for growth utilising years of BFW expertise in
franchising, operational excellence, systemisation and marketing".

Josef Roberts, BurgerFuel CEO, adds, "As previously communicated,
diversification outside of the BurgerFuel brand has become important to
create further growth opportunities for the Group within NZ. Winner Winner is
our first step in this direction".

"Our main focus remains on the international development of BurgerFuel,
however the reality is that the global gourmet food sector has become highly
competitive and international development is both costly and takes many years
to achieve".

Roberts continues, "In this rapidly changing, highly competitive global
economy that we now operate in, we don''t believe it is wise to have all our
eggs in one basket. It is for this reason that the Board have made the
decision to diversify. Now that the purchase is complete, work will commence
on adding value to the brand in order to expand it within the NZ market. This
is expected to take time, as well as financial resource, which we are well
capitalised to handle".

Kate McGahan
021 858 619
communications@burgerfuel.com
End CA:00312109 For:BFW    Type:GENERAL    Time:2017-12-18 13:36:39
Views: 127
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