How Guzman y Gomez turned burritos into a $2.2 billion business | The Business | ABC News

Since opening its first restaurant in Sydney 18 years ago, Guzman y Gomez has become the fastest growing fast-food chain in Australia, and boasts 210 restaurants across four countries, including the United States and Japan. GYG is gearing up to go public and intends to list on the ASX on June 20. At $22 a share, the company is being valued at $2.2 billion. While some investors say the offer is expensive, others see its growth potential as a reason to jump in. GYG wants to open around 30 stores in Australia in 2024 alone, and its lofty future ambitions mean it needs lots of money to make its dreams a reality. The firm is the brainchild of childhood friends Steven Marks and Robert Hazan, who grew up eating Mexican cuisine in the United States and saw a gap in the Australian fast-food market.
#ABCBusiness

Subscribe: http://ab.co/1svxLVE
Read more here:

ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.

For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1

Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2
Like ABC News on Facebook:   / abcnews.au  
Follow ABC News on Instagram:   / abcnews_au  
Follow ABC News on X (Twitter):   / abcnews  

Note: In most cases, our captions are auto-generated.

#ABCNews #ABCNewsAustralia