Craveable Brands

Craveable Brands Ltd (formerly known as Quick Service Restaurant Holdings) is an Australian fast food holding company. It owns the Red Rooster, Oporto, and Chicken Treat brands with 580 restaurants in Australasia and Southeast Asia. The company has been a subsidiary of Hong Kong-based private equity firm PAG Asia Capital since July 2019.

Craveable Brands Ltd
FormerlyQuick Service Restaurant Holdings (2007–2017)
TypeSubsidiary
IndustryFast food restaurants
PredecessorAustralian Fast Foods
Founded2007
Headquarters
Sydney, New South Wales
,
Australia
Number of locations
580
Area served
Australasia
Southeast Asia
Key people
Karen Bozic (CEO)
RevenueA$800 million (2018)[1]
Number of employees
12,500
ParentQuadrant Private Equity (2007–2011)
Archer Capital (2011–2019)
PAG Asia Capital (2019–present)
SubsidiariesChicken Treat
Oporto
Red Rooster
Websitewww.craveablebrands.com

History

The company was founded in 2007 as Quick Service Restaurant Holdings (QSR) from the management buyout of Australian Fast Foods Pty Ltd (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]

References
  1. Waters, Cara (12 July 2019). "Red Rooster and Oporto snapped up in $500 million deal". The Sydney Morning Herald. Retrieved 1 October 2020.
  2. "Australian Fast Foods signs buyout deal". The Age. 16 April 2007. Retrieved 3 October 2020.
  3. "QSR completes $60m Oporto deal > Inside Retailing > Articles page". web.archive.org. 30 August 2007. Retrieved 3 October 2020.
  4. Wen, Philip (13 June 2011). "Archer buys Red Rooster and Oporto in $450m deal". The Sydney Morning Herald. Retrieved 3 October 2020.
  5. Red Rooster owner refreshes board and name ahead of IPO Australian Financial Review 30 May 2017
  6. "Red Rooster, Oporto sold in $500 million deal to take Aussie chicken global". SmartCompany. 15 July 2019. Retrieved 1 October 2020.
  7. "Craveable Brands officially sold to PAG Asia Capital". QSR Media. Retrieved 1 October 2020.
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