Mexican food chain Guzman y Gomez has made a dazzling debut on the ASX on June 20 soaring to more than $3 billion in value.
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Its shares opened at $30 up from $22 from its share price issue under the moniker 'GYG'.
The business opened its first restaurant in Sydney in 2006 and now boasts 210 restaurants across four countries with 16 in Singapore, five in Japan, and four in the US.
The quick-service restaurant sells made-to-order food across drive-through restaurants and outlets on shopping strips, food courts and universities.
GYG expects to open 30 new Australian restaurants in 2025 and believes it could increase this to opening 40 restaurants per year within five years.
In 2023 the business made $759 million in global sales but it expects that to soar to $1.14 billion in 2025.
The US fast food market is expected to be a target of growth opportunities.
Carla Mascarenhas
Carla Mascarenhas is the NSW correspondent covering breaking news, state politics and investigations. She is based in Sydney. Contact her on carla.mascarenhas@austcommunitymedia.com.au
Carla Mascarenhas is the NSW correspondent covering breaking news, state politics and investigations. She is based in Sydney. Contact her on carla.mascarenhas@austcommunitymedia.com.au
