(BusinessDesk) BurgerFuel Worldwide said it has signed a master licence agreement for Kuwait with Al Khayyat Investments.
AKI already operates five BurgerFuel stores in Dubai in the United Arab Emirates and has another eight sites under construction or scheduled to open next year.
"Burgerfuel is a marquee brand within our F&B [food and beverage] portfolio and we are excited about this new opportunity for us to secure BurgerFuel Kuwait," AKI food and beverage general manager Farah George Farah says.
"We are also reviewing other countries in line with our regional aspirations and possibly extending our territories with BurgerFuel Worldwide in the future."
His firm has more than $700 million in annual turnover, he says.
BurgerFuel also has stores in Saudi Arabia and Iraq and has master license agreements in place for Egypt Qatar, Libya and Bahrain.
BurgerFuel shares last traded at $1.07 on September 25, down from its May peak at $1.20 but well above 40 cents a year ago. The shares were floated at $1 in 2007.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Brash, Wall clash over Hobson's Pledge campaign
- Sri Lanka: PM's visit signals it's open for business
- Adobe, Microsoft, Google signal price rises from Oct 1 as GST net thrown wider (thanks, Spark)
- Sir Bob Jones: Why the newspaper industry is deservedly dying
- Housing stats show just about everything's getting worse
Most listened to
- Week in Review: a wrap of NBR Radio's top stories, interviews and analysis
- Matthew Hooton: Little leaves centre wide open for Peters and Greens
- ASB's Kim Mundy and Realestate.co.nz's Vanessa Taylor on the latest housing statistics
- Rob Hosking: Winston’s hour is coming
- Hunter's Corner: High stakes for both sides of Warminger case