CKE Restaurants, the parent company of the Quick Service Restaurant (QSR) chain Carl's Jr., has announced that it will be investing in convertible notes with the CJ's QSR Group in Australia to accelerate the growth of Carl's Jr. restaurants throughout the country.
According to CJ’s QSR Group Managing Director Andrew Firn, this investment will enable the group to expand the Carl's Jr. brand in Australia more rapidly, with plans to open new locations in key markets across the country. The convertible note will provide additional capital to fuel expansion plans and achieve the goal of opening over 200 restaurants.
"We have ambitious plans to open hundreds of new locations in the coming years and introduce exciting new menu items that will continue to set us apart in the highly competitive QSR market”. With the support of CKE Restaurants, we are confident that we will be able to achieve our goals and continue to provide our customers with the high-quality, innovative dining experience that they have come to expect from us."
"We are excited to announce this investment in CJ's QSR Group, which will enable us to expand the Carl's Jr. brand in Australia," says Mike Woida, President International at CKE. "Australia is an important market for us, and we believe that CJ's QSR Group is the right partner to help us achieve our growth objectives."
CJ's QSR Group has a proven track record of success in the Australian market, having opened many successful Carl's Jr. locations in recent years. The company has a deep understanding of the Australian consumer and has demonstrated a commitment to providing high-quality food and exceptional customer service.
"We are thrilled to have the support of CKE Restaurants as we continue to grow the Carl's Jr. brand in Australia. This partnership is a significant milestone for CJ's QSR Group and the Carl's Jr. brand in Australia. We have been successfully growing the brand in Australia for several years now, and this investment will enable us to take it to the next level" continues Andrew Firn. "We will be able to bring the delicious Carl's Jr. burgers, shakes and fries to even more Australians. My team and I are incredibly passionate about the Carl's Jr. brand and the growth opportunities that lie ahead for us in Australia."
The convertible note is a unique financing instrument that provides CJ's QSR Group with flexibility and the ability to convert the debt into equity in the future. This structure aligns the interests of both CKE Restaurants and CJ's QSR Group and ensures that both parties are committed to the long-term success of the Carl's Jr. brand in Australia.
The expansion of Carl's Jr. in Australia is part of CKE Restaurants' broader strategy to grow the brand internationally. With this investment, the company is demonstrating its commitment to expanding its presence in key markets around the world and providing consumers with high-quality food and exceptional service.