Guzman y Gomez

{{Infobox company

| name = Guzman y Gomez

| logo = Guzman y Gomez logo.svg

| image = Guzman y Gomez, Westfield Carousel.jpg

| image_caption = Guzman y Gomez restaurant in Cannington, Western Australia

| type = Public company

| traded_as = {{ASX|GYG}}

| foundation = 2006

| location = Surry Hills, New South Wales, Australia

| locations = 210 restaurants

| num_locations_year = 2024

| key_people = {{Unbulleted list|Steven Marks (Founder)|Robert Hazan (Co-Founder, NED)|Guy Russo (Chairman)}}

| industry = {{Unbulleted list|Casual dining restaurant|Fast food Franchising }}

| products = Mexican food

| area_served = {{Unbulleted list|Australia|Singapore|Japan|United States}}

| revenue =

| revenue_year =

| operating_income =

| income_year =

| net_income = AU$–2.2 million

| net_income_year = 2023

| num_employees =

| num_employees_year =

| website = {{URL|www.guzmanygomez.com.au}}|

}}

Guzman y Gomez (GYG; {{IPAc-en|ɡ|ʊ|z|.|ˈ|m|ɑː|n|.|iː|.|ɡ|oʊ|.|ˈ|m|ɛ|z}}){{cite AV media |url=https://www.youtube.com/watch?v=UZ1IJ4z1OAs&app=desktop |title=About Us: The Fun Stuff |access-date=12 October 2019 |work=Guzman y Gomez |date=22 November 2011 |via=YouTube}} is a Mexican-themed casual fast food restaurant chain based in Australia. The restaurant serve coffee through the “Cafe Hola” brand which operates during the morning.

Guzman y Gomez was established in Sydney in 2006 by Steven Marks and Robert Hazan. It operates over 200 restaurants in Australia, Japan, Singapore and the United States.

As of 2021, Guzman y Gomez is the ninth-most popular fast food restaurant in Australia.{{cite web | url=https://www.roymorgan.com/findings/mcdonalds-kfc-hungry-jacks-dominos-pizza-are-australias-favorite-restaurants | title=McDonald's, KFC, Hungry Jack's & Domino's Pizza are Australia's favorite restaurants - Roy Morgan Research }}

Restaurants

In Australia, Guzman y Gomez had 185 restaurants in operation as of May 2024.{{Cite web |last=Jeffrey |first=Daniel |date=2024-05-31 |title=Aussie fast food chain announces $2.2 billion transformation |url=https://www.9news.com.au/finance/guzman-y-gomez-initial-public-offering-announcement/679a6d85-fb50-4d73-9945-5361384bf76e |access-date=2024-06-03 |website=www.9news.com.au}} The business operates internationally with 25 locations in Singapore, Japan, and the United States.

History

Guzman y Gomez was established by Steven Marks, a New Yorker who previously worked as a hedge fund manager. After relocating to Australia, he found the quality of Mexican food to be poor and decided to start a restaurant.{{cite news|url=https://www.afr.com/companies/retail/from-wall-st-finance-bro-to-burrito-king-20191010-p52zex|title=From Wall St finance bro to burrito king|newspaper=Australian Financial Review|date=15 October 2019|access-date=1 April 2021|first=Natasha|last=Gillezeau}} He has stated that "real Mexican is really urban, street and hot [...] Latin people are so full of energy and full of life, we wanted to bring that to Australia".{{cite news |url=http://www.smh.com.au/business/from-wall-street-he-rode-in-on-a-mexican-wave-20120408-1wjfd.html |archive-url=https://web.archive.org/web/20140724042533/http://www.smh.com.au/business/from-wall-street-he-rode-in-on-a-mexican-wave-20120408-1wjfd.html |archive-date=24 July 2014 |date=9 April 2012 |newspaper=Sydney Morning Herald |first=Max |last=Mason |title=From Wall Street, he rode in on a Mexican wave}} He took on his friend Robert Hazan, another New Yorker, as a partner. They named the business after two of Marks' childhood friends.{{cite news|url=https://www.smh.com.au/business/small-business/build-the-next-mcdonald-s-guzman-y-gomez-heads-to-the-us-on-way-to-ipo-20200220-p542m3.html|title='Build the next McDonald's': Guzman y Gomez heads to the US on way to IPO|first=Cara|last=Waters|newspaper=Sydney Morning Herald|date=22 February 2020|access-date=2 April 2021}}

The first store was opened in King Street, Newtown, Sydney, in 2006.{{cite news |url=http://www.news.com.au/finance/business/retail/mcdonalds-guzman-y-gomez-and-dominos-smash-fastfood-rankings-pizza-hut-in-crisis/news-story/bfd3651b1bb3fcd2ea50fbfb002172f3 |title=McDonald's, Guzman y Gomez and Domino's smash fast-food rankings, Pizza Hut in crisis|date=8 April 2016 |archive-date=8 April 2016 |archive-url=https://web.archive.org/web/20160408134142/http://www.news.com.au/finance/business/retail/mcdonalds-guzman-y-gomez-and-dominos-smash-fastfood-rankings-pizza-hut-in-crisis/news-story/bfd3651b1bb3fcd2ea50fbfb002172f3 |first=Frank |last=Chung |work=News.com.au}} Store openings in Bondi Junction and Kings Cross, followed within a year.{{cite news |url=https://www.smh.com.au/lifestyle/mexican-wave-20071113-gdrktv.html |title=Mexican wave| last=Butterworth |first=Monique |date=13 November 2007 |newspaper=Sydney Morning Herald |access-date=4 August 2019 |archive-url=https://web.archive.org/web/20151123182325/http://www.smh.com.au/entertainment/mexican-wave-20100223-owq6.html |archive-date=23 November 2015}} By April 2012, there were 12 stores. The first Guzman y Gomez in the Melbourne central business district opened in November 2012.{{cite news |url=http://www.smh.com.au/business/property/mexican-chain-finds-city-home-20121120-29nyb.html |title=Mexican chain finds city home |first=Chris |last=Vedelago |newspaper=Sydney Morning Herald |date=21 November 2012 |archive-url=https://web.archive.org/web/20121122032105/http://www.smh.com.au/business/property/mexican-chain-finds-city-home-20121120-29nyb.html |archive-date=22 November 2012}} Within 12 years, they opened 100 stores in Australia.{{cite news |last=Bennett |first=Lindsay |date=6 April 2018 |title=How Guzman Y Gomez took on McDonald's without marketing |work=AdNews |url=https://www.adnews.com.au/guzman-y-gomez-challenges-maccas |accessdate=6 April 2018}}

File:202403061723 IMG 6125.jpg district of Tokyo]]

The first international Guzman y Gomez restaurant opened at the end of 2013 in Singapore,{{cite news |url=http://www.theaustralian.com.au/business/mcdonalds-old-boys-beef-up-the-burrito/news-story/488556ab0f769d1b9c1523220f98486c |first=Damon |last=Kitney |newspaper=The Australian |date=11 August 2014 |title=McDonald's old boys beef up the burritoa}} followed thereafter by the opening of a restaurant in Tokyo, Japan in April 2015.{{cite news |url=https://www.japantimes.co.jp/life/2015/04/24/food/taco-bell-ringing-will-tokyo-come-party/ |title=The Taco Bell is ringing, but will Tokyo come to the party? |website=The Japan Times |date=24 April 2015 |first=Patrick |last=St. Michel}} In January 2020, Guzman y Gomez's international expansion continued with the opening of their first restaurant in the United States in the Chicago suburb of Naperville.{{cite web |url=https://www.guzmanygomez.com/us/|title=Guzman Y Gomez is coming to Naperville |publisher=Guzman y Gomez |access-date=17 January 2020}}{{cite news |url=https://www.dailyherald.com/business/20200113/naperville-is-getting-the-nations-first-australian-mexican-restaurant |title=Naperville is getting the nation's first Australian Mexican restaurant |newspaper=Arlington Heights Daily Herald |date=14 January 2020 |first=Marie |last=Wilson}}

Ownership and finance

Marks and Hazan initially supported GYG with their own money. In 2009, they sold a minority stake to Peter Ritchie, Guy Russo and Steve Jermyn, who had previously been involved with McDonald's Australia. Russo was subsequently appointed chairman of the board. The board also includes co-founder Robert Hazan, 3 former McDonalds executives, Tom Cowan of TDM Growth Partners,{{cite news|url=https://www.businessnewsaustralia.com/articles/the-rise-of-guzman-y-gomez--the-making-of-a-global-brand.html|title=The rise of Guzman y Gomez: the making of a global brand|newspaper=Business News|date=1 April 2021|access-date=26 July 2022}} and Rokt CEO Bruce Buchanan.{{cite news|url=https://www.afr.com/technology/why-rokt-and-its-biggest-investor-are-pushing-ahead-with-a-2023-ipo-20220523-p5anuf|title=Why Rokt and its biggest investor are pushing ahead with a 2023 IPO|newspaper=Australian Financial Review|date=30 May 2022|access-date=26 July 2022}}

Investment firm TDM Growth Partners bought a stake in the company for $44 million in August 2018. In December 2020, the publicly listed Magellan Financial Group bought 10% of the company for $86.8 million.{{cite news|url=https://www.afr.com/chanticleer/magellan-pays-up-for-guzman-y-gomez-20201222-p56pgy|title=Magellan pays up for Guzman y Gomez|newspaper=Australian Financial Review|date=22 December 2020|access-date=1 April 2021}} In May 2022, Magellan sold its 11.6% stake in the company to an entity owned by investment bank Barrenjoey Capital Partners for $140 million.{{cite news|url=https://www.afr.com/companies/financial-services/magellan-sells-guzman-y-gomez-stake-to-barrenjoey-unit-for-140m-20220509-p5ajnl|title=Magellan sells Guzman y Gomez stake to Barrenjoey unit for $140m|newspaper=Australian Financial Review|date=9 May 2020|access-date=9 May 2022}}

Marks stated in 2019 that his goal was to list GYG on the Australian Securities Exchange. In 2020, he stated that he was also ambitious to expand the company's presence in the United States, citing Australia's "antiquated" labour laws, high rents, and expensive fresh produce.

In May 2023, Marks resigned as CEO due to a health scare.{{Cite web |last1=Thompson |first1=Sarah |last2=Sood |first2=Kanika |last3=Rapaport |first3=Emma |date=2023-05-07 |title=On ya Marks! Guzman y Gomez boss resigns |url=https://www.afr.com/street-talk/on-ya-marks-gyg-boss-resigns-20230507-p5d6e2 |url-access=subscription |access-date=2023-12-19 |website=Australian Financial Review |language=en}} However, he changed his mind and remained as CEO.{{Cite web |last=Riordan |first=Primrose |date=2023-12-08 |title=Guzman y Gomez appoints Kmart and Target executive as new CFO |url=https://www.afr.com/companies/retail/guzman-y-gomez-appoints-kmart-and-target-executive-as-new-cfo-20231208-p5eq2x |url-access=subscription |access-date=2023-12-19 |website=Australian Financial Review |language=en}} Hilton Brett was appointed co-CEO in October 2023.{{Cite web |last=Ignacio |first=Celene |date=2023-10-08 |title=Guzman Y Gomez appoints Hilton Brett as co-CEO |url=https://insideretail.com.au/sectors/guzman-y-guzman-appoints-hilton-brett-as-co-ceo-202310 |access-date=2023-12-19 |website=Inside Retail Australia |language=en-US}} GYG was listed on the Australian Securities Exchange on 20 June 2024.[https://www.afr.com/companies/retail/fast-food-chain-guzman-y-gomez-flags-2-2b-ipo-20240531-p5ji9i Huge milestone: Guzman y Gomez flags $2.2b IPO] Australian Financial Review 31 May 2024[https://www.abc.net.au/news/2024-06-20/asx-markets-business-live-news-june20-2024/104000066 Mexican fast-food chain Guzman Y Gomez listing today, ASX down slightly, super funds on track for strong returns] ABC News 20 June 2024