Craveable Brands Ltd (formerly known as Quick Service Restaurant Holdings) is an Australian fast food restaurant holding company. It owns the franchise chains Red Rooster, Oporto, Chicken Treat and Chargrill Charlie’s brands with 620 restaurants throughout Australasia and Southeast Asia. The company has been a subsidiary of Hong Kong–based private equity firm PAG Asia Capital since July 2019.
 | |
| Formerly | Quick Service Restaurant Holdings (2007–2017) |
|---|---|
| Company type | Subsidiary |
| Industry | Fast food restaurants |
| Predecessor | Australian Fast Foods |
| Founded | 2007 |
| Headquarters | Sydney, New South Wales , Australia |
Number of locations | 580 |
Area served | Australasia Southeast Asia |
Key people | Karen Bozic (CEO) |
| Revenue | A$800 million (2018)[1] |
Number of employees | 12,500 |
| Parent | Quadrant Private Equity (2007–2011) Archer Capital (2011–2019) PAG Asia Capital (2019–present) |
| Subsidiaries | |
| Website | craveablebrands |
History
editCraveable Brands was founded in 2007 as Quick Service Restaurant Holdings (QSR) from the management buyout of Australian Fast Foods (AFF).[2] The A$180 million deal was in partnership with Quadrant Private Equity, AFF's managing director Frank Romano, and other management members.
In July 2007, QSR acquired the Oporto chain of restaurants for A$60 million.[3]
In June 2011, Archer Capital acquired QSR from Quadrant Private Equity for an estimated A$450 million.[4]
In May 2017 the company was renamed from Quick Service Restaurant Holdings to Craveable Brands Ltd. in advance of a proposed stock market flotation.[5] In July 2019, parent company Archer Capital sold Craveable Brands to PAG Asia Capital for an estimated A$450–500 million.[6][7]
In May 2023, Craveable Brands acquired the Chargrill Charlie’s chain.[8]
References
edit- ^ Waters, Cara (12 July 2019). "Red Rooster and Oporto snapped up in $500 million deal". The Sydney Morning Herald. Retrieved 1 October 2020.
- ^ "Australian Fast Foods signs buyout deal". The Age. 16 April 2007. Retrieved 3 October 2020.
- ^ "QSR completes $60m Oporto deal > Inside Retailing > Articles page". 30 August 2007. Archived from the original on 30 August 2007. Retrieved 3 October 2020.
- ^ Wen, Philip (13 June 2011). "Archer buys Red Rooster and Oporto in $450m deal". Sydney Morning Herald. Retrieved 3 October 2020.
- ^ Red Rooster owner refreshes board and name ahead of IPO Australian Financial Review 30 May 2017
- ^ "Red Rooster, Oporto sold in $500 million deal to take Aussie chicken global". SmartCompany. 15 July 2019. Retrieved 1 October 2020.
- ^ "Craveable Brands officially sold to PAG Asia Capital". QSR Media. 12 July 2019. Retrieved 1 October 2020.
- ^ Dong, Irene (9 May 2023). "Craveable Brands buys Chargrill Charlie's, boosting its fast-food portfolio". Inside Retail Australia. Retrieved 8 February 2024.
