(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
Most listened to
- Miriam Clements explains her battle with Auckland Council
- Craigs' Mark Lister on markets, the OCR review, business confidence
- Fletcher Building chief executive Ross Taylor on the company's restructure
- NZME chief executive Michael Boggs on the NZ Herald's new paywall
- NBR Radio: The best interviews – updated daily