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Singapore crispy fried chicken fast food chain 4FINGERS has bought 50% of Australia’s Mad Mex as part of a plan to expand the Mexican food outlets into South East Asia.
The financial details of the deal haven’t been revealed but Mad Mex CEO Clovis Young, who founded the chain in 2007, is keeping management control of the 70 restaurants in Australia and New Zealand.
He says the business delivered 4% like-for-like sales growth over the last two quarters.
“In 2018 we refocused on our core healthy positioning with the introduction of Kombucha, activated charcoal tortilla, a vegan-friendly Veggie Rancheros protein, and vegan cheese,” he says.
“Mad Mex has always been a favourite of gluten-free, dairy-free customers, but now that we offer our full range in vegan options, we are fast becoming a preferred dining option for the increasingly popular vegan and flexitarian consumers.”
Vijay Sethu, director of 4FINGERS, said: “We are very excited with our investment in Mad Mex and look forward to working with Clovis to further grow this business in Australia and New Zealand and to rollout the Mad Mex brand in Asia.”