More than 50 new Taco Bell stores to open around Australia

More than 50 new Taco Bell stores to open around Australia

It's a staple of the American diet, and soon more of Australia will get to bite into a burrito from the world-famous Taco Bell.

The operator of Taco Bell in Australia, Collins Foods (ASX: CKF), has announced it will be opening more than 50 new Taco Bell restaurants across multiple states in Australia in 2019.

The rollout process will take a few years though, and won't be completed until December 2021.

There's already one Taco Bell operating in Brisbane, which was launched in 2017. Collins Foods plans to open the next three in Queensland too, with Robina, Cleveland and North Lakes the lucky suburbs to get a shiny, new Taco Bell restaurant.

Collins Food is no stranger to the fast food industry; it operates KFC and Sizzler in Australia and Asia.

Though unclear which other states will be receiving the new Taco Bell restaurants at this stage, the listed company has said "three Australian states including Queensland" will be getting Taco Bells.

Collins Foods' managing director Graham Maxwell says the initial store in Annerley, Brisbane has given the company confidence to rollout the franchise nationally.

"We have seen tremendous enthusiasm for the Taco Bell brand in Australia, and this is reflected in the continued strong performance of our Annerley restaurant," says Maxwell.

"We believe in the significant growth potential of Taco Bell, and are pleased to have the strong confidence of Yum! Brands to grow Taco Bell's presence across Queensland and into other markets."

BACKGROUND

Taco Bell, a subsidiary of global fast food giant Yum! Brands, was founded in 1962 by entrepreneur Glen Bell.

Originally, Bell sold hard shelled tacos form a stand called Taco-Tia which eventually transformed into El Tacos and finally Taco Bell.

The company grew rapidly before being acquired by PepsiCo in 1978.

Taco Bell is famous for its affordable price point and huge variety of Tex-mex style menu items.

The first Australian Taco Bell was opened in Annerley, Brisbane, in 2017.

Despite it's famous-name and reputation, Taco Bell has serious competition in Australia. Established players like Guzman & Gomez, Zambrero, and the thousands of family owned Mexican restaurants in Australia will give Taco Bell a run for its money.

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