GLOBAL EYE

Food, fitness and retail chains dominate the news with expansion, buy-outs, buy-ins and new tech.

MCDONALD’S $500M EXPANSION

McDonald’s Australia is preparing to spend more than $500m on expansion efforts across the country, including plans to bolster its representation in regional areas.

The plan is expected to take three years, with the ‘golden arches’ committing to a $350m investment that will see the launch of 45 new restaurants in the prime retail hubs of Melbourne and Sydney.

The investment will bring McDonald’s total number of Australian outlets above 1000 for the first time with the chain eager to develop its growing number of freestanding locations.

Josh Bannister, McDonald’s senior development director said the brand’s aggressive nation-wide expansion announcement comes off the back of prolonged network success, and serves as a key component of McDonald’s growth strategy.

“McDonald’s has opened more than 100 restaurants around the country in the last seven years, and we plan to invest approximately $500 million in new restaurants and refurbishments over the next three years, including up to $200 million in NSW,” Bannister said.

“These new restaurants will be in both metro and regional areas, with a large focus on key growth corridors in each state.

“Our core business is freestanding restaurants with drive through, however we are able to adapt in a number of different ways to ensure we can continue to grow. This includes integration with mixed use development, highway service centres and smaller format retail sites in CBDs and premium railway stations.”

McDonald’s venture into regional areas is also likely to bolster the brand’s profits, with new reports from the Australian government suggesting sub-regional areas present a rapidly growing fast-food consumer market.

SUSHI SUSHI BUY OUT

Sushi Sushi is selling a majority share in its business to Odyssey Private Equity and the management team, led by CEO Scott Meneilly.

Meneilly said “We are looking forward to working with Odyssey to grow the business and capitalise on the many opportunities that are available to us.

Our recently opened wholesale division has exceeded our expectations and is a fantastic addition to our brand, as will be our first store in NZ which opens in May, followed by our NSW store openings later this year.”

Paul Readdy , Odyssey Private Equity partner, said “The growth in demand for sushi and Japanese inspired food more generally, is being driven by consumers’ demand for healthy and convenient meals. We believe that Sushi Sushi’s commitment to innovation, consumer experience and quality food will continue to fuel the company’s growth”.

Sushi Sushi is a vertically integrated food business. It has an office in Tokyo, warehouses and a fleet of trucks in Western Australia, Queensland and Victoria.

It distributes product through a network of company owned stores, franchisees and commercial sales channels. Sushi Sushi will grow its own store network through a variety of flexible formats across the country.

The sushi chain is also targeting 30 store openings in New Zealand.

ANYTIME FITNESS PARTNERS WITH RUOK?

Gym chain Anytime Fitness and R U OK? have partnered to help with suicide prevention. The franchise network will support the work of R U OK? through its annual fundraising challenge, Tread As One.

The 500-strong franchise chain first held the 24-hour fundraising treadmill challenge in 2017. This sees the clubs keep one or more of their treadmills running for a full 24 hours, whilst participants receive donations for every 15-minute slot they complete on the treadmill.

Anytime Fitness general manager Gordon Martin said “We are proud to play such an important role in the lives of Aussies and continue to do so with the Tread As One initiative and R U OK?.”

The charity encourages people to hold meaningful conversations with those around them and ask ‘Are you OK?’. Peerto-peer support can save lives and R U

OK? works to equip people with the skills and confidence to navigate a conversation when someone says, “No, I’m not OK.”

Since 2017, Anytime Fitness has raised more than $800,000 for mental health charities.

THE ATHLETE’S FOOT HIGH TECH FLAGSHIP UNVEILED

Performance footwear retailer The Athlete’s Foot opened a new flagship in Melbourne Central with an expanded product line and new technology to better suit product to customers’ needs.