Monday 1st October 2012
|Text too small?|
BurgerFuel Worldwide said it has signed a master licence agreement for Kuwait with Al Khayyat Investments (AKI).
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," said AKI food and beverage general manager Farah George Farah.
"We are also reviewing other countries in line with our regional aspirations and possibly extending our territories with BurgerFuel Worldwide in the future," Farah said. His firm has more than $700 million in annual turnover, he said.
BurgerFuel also has stores in Saudi Arabia and Iraq and has master licence agreements in place for Egypt Qatar, Libya and Bahrain.
BurgerFuel shares last traded at $1.07 Sept. 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.
No comments yet
Burger Fuel FY profit jumps 55 percent on Middle East sales, plans to build up cash for investment
SPECULATIVE BUY Burger Fuel
Burger Fuel raises $2 mln in placement to Milford funds
Burger Fuel boosts first-half profit 37% as Middle East sales surge
Arab Spring opens door for Burger Fuel in post-Gaddafi Libya
Burger Fuel Worldwide
BurgerFuel expands into Qatar, shares jump
Burger Fuel turns profitable in first-half as Middle East franchise fees kick in
Burger Fuel opens new store in Saudi Arabia