TACO BELL’S CHILLI RECEPTION PROMPTS EXPANSION
SHARES in Brisbane-based Collins Foods shot to a 12month high yesterday after the announcement of a rapid expansion of its Taco Bell restaurants.
The company, which is Australia’s biggest KFC franchise and also owns Sizzler, announced it had struck a deal with Taco Bell, a subsidiary of Yum! Brands, to rollout 50 new locations across three states by the end of 2021. Last year the company opened its first Taco Bell to much fanfare in Annerley – the third time the Tex-Mex giant, which has thousands of locations across the US, had attempted to crack the Australian market.
The company plans to open three Taco Bell restaurants by the end of the year, all in Queensland, in Cleveland, North Lakes and Robina.
Chief executive Graham Maxwell said there had been “tremendous enthusiasm” for the brand Down Under, and the Annerley restaurant had performed strongly.
“We believe in the significant growth potential of Taco Bell, and are pleased to have the strong confidence of Yum! Brands to grow Taco Bell’s presence ... into other markets,” he said.
Shares closed up 32c to $6.45 yesterday.