Guzman y Gomez valued at $1.73b after latest liquidity round
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The news: Fast food chain Guzman y Gomez (GYG) has completed its annual liquidity round from existing and new investors who will purchase shares with $134.5 million, subject to shareholder approval.
The numbers: The raise valued GYG at $1.725 billion on a fully diluted basis, with the proceeds being used to support its three-year growth strategy that includes Australian and overseas expansion plans.
The context: Cooper Investors, Hyperion Asset Management, Fitretrail Investments and QVG Capital were added as new investors, joining existing investors Athletic Ventures, Aware Super and TDM Growth Partners.
GYG is tipped for an IPO but did not provide any update.
What they said: Hyperion Asset Management lead portfolio managers Mark Arnold and Jason Orthman said: “Having successfully invested in the QSR (quick service restaurant) space over many years, we are attracted to the company's superior unit economics, underpinned by an innovative ‘fresh and fast’ consumer offering”.
“We are impressed with their strong, founder-led culture and track record of success. GYG has a well-defined growth pathway which we anticipate will see it scale well beyond its current footprint within Australia in the coming years. Over time, GYG has the potential to become a significant global business,” they said.
Similarly, Cooper Investors portfolio managers Justin O’Brien and Geoff Di Felice said: “Having analysed and invested in QSR businesses globally for over a decade, the Cooper Investors team believe GYG has all the hallmarks of success – a customer obsessed culture combined with the systems and processes to deliver at scale. We’re excited to be on this journey with GYG”.
The source: GYG media release
