Craveable Brands
{{Short description|Australian fast food restaurant chain holding company}}
{{Use dmy dates|date=November 2017}}
{{Use Australian English|date=November 2017}}
{{Infobox company
| name = Craveable Brands Ltd
| logo = Craveable_Brands_logo.jpg
| former_name = Quick Service Restaurant Holdings (2007–2017)
| type = Subsidiary
| traded_as =
| predecessor = Australian Fast Foods
| founded = 2007
| founder =
| defunct =
| location_city = Sydney, New South Wales
| location_country = Australia
| locations = 580
| area_served = Australasia
Southeast Asia
| key_people = Karen Bozic (CEO)
| industry = Fast food restaurants
| products =
| services =
| operating_income =
| net_income =
| num_employees = 12,500
| parent = Quadrant Private Equity (2007–2011)
Archer Capital (2011–2019)
PAG Asia Capital (2019–present)
| divisions =
| subsid = {{Unbulleted list|Red Rooster|Oporto||Chicken Treat|Chargrill Charlie’s}}
| owner =
| website = {{URL|https://craveablebrands.com}}
}}
Craveable Brands Ltd (formerly known as Quick Service Restaurant Holdings) is an Australian fast food restaurant holding company. It owns the franchise chains Red Rooster, Oporto, Chicken Treat and Chargrill Charlie’s brands with 620 restaurants throughout Australasia and Southeast Asia. The company has been a subsidiary of Hong Kong–based private equity firm PAG Asia Capital since July 2019.
History
Craveable Brands was founded in 2007 as Quick Service Restaurant Holdings (QSR) from the management buyout of Australian Fast Foods (AFF).{{Cite web|date=2007-04-16|title=Australian Fast Foods signs buyout deal|url=https://www.theage.com.au/business/australian-fast-foods-signs-buyout-deal-20070417-gdpxdt.html|access-date=2020-10-03|website=The Age|language=en}} 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.{{Cite web|date=2007-08-30|title=QSR completes $60m Oporto deal > Inside Retailing > Articles page|url=http://www.insideretailing.com.au/articles-page.aspx?articleType=ArticleView&articleId=867|access-date=2020-10-03|archive-url=https://web.archive.org/web/20070830214344/http://www.insideretailing.com.au/articles-page.aspx?articleType=ArticleView&articleId=867|archive-date=30 August 2007}}
In June 2011, Archer Capital acquired QSR from Quadrant Private Equity for an estimated A$450 million.{{Cite web|last=Wen|first=Philip|date=2011-06-13|title=Archer buys Red Rooster and Oporto in $450m deal|url=https://www.smh.com.au/business/archer-buys-red-rooster-and-oporto-in-450m-deal-20110613-1g0p3.html|access-date=2020-10-03|website=Sydney Morning Herald|language=en}}
In May 2017 the company was renamed from Quick Service Restaurant Holdings to Craveable Brands Ltd. in advance of a proposed stock market flotation.[http://www.afr.com/business/retail/red-rooster-owner-refreshes-board-and-name-ahead-of-ipo-20170530-gwg3z3 Red Rooster owner refreshes board and name ahead of IPO] Australian Financial Review 30 May 2017 In July 2019, parent company Archer Capital sold Craveable Brands to PAG Asia Capital for an estimated A$450–500 million.{{Cite web|date=2019-07-15|title=Red Rooster, Oporto sold in $500 million deal to take Aussie chicken global|url=https://www.smartcompany.com.au/finance/buying-and-selling/red-rooster-oporto-sale/|access-date=2020-10-01|website=SmartCompany|language=en-US}}{{Cite web|title=Craveable Brands officially sold to PAG Asia Capital|url=https://qsrmedia.com.au/legal/news/craveable-brands-officially-sold-pag-asia-capital|access-date=2020-10-01|website=QSR Media|date=12 July 2019 }}
In May 2023, Craveable Brands acquired the Chargrill Charlie’s chain.{{Cite web |last=Dong |first=Irene |date=2023-05-09 |title=Craveable Brands buys Chargrill Charlie's, boosting its fast-food portfolio |url=https://insideretail.com.au/business/craveable-brands-buys-chargrill-charlies-boosting-its-fast-food-portfolio-202305 |access-date=2024-02-08 |website=Inside Retail Australia |language=en-US}}