ORGANIC FAST FOOD CHAIN TO RAISE $15M IN IPO
Written on the 19 May 2017 by David Simmons
THE world's first organically certified fast food chain, Oliver's Real Food, has today opened its IPO.
The restaurant chain is hoping to raise $15 million in its first round of fund raising by issuing 50 million new shares at $0.30 per share.
Oliver's, which prides itself on being a healthy and organic alternative to traditional fast food restaurants, emphasised the company's culture when launching its IPO.
Founder and CEO Jason Gunn says he is proud to be finally offering his business to the public, and is excited to be handing his company over to those who are interested in healthy living, as well as investing in a strong balance sheet.
"I've always believed that Oliver's should be a business that is available for the public to invest in," says Gunn.
"We're going public for our employees, suppliers and our investors."
"We make a commitment to them to work hard to grow the company and make it strong, and this IPO is fulfilling our commitment."
The company, now 15 years old, plans on using the IPO cash injection to open 11 planned new highway stores, further to its existing 20 stores which currently dot the east coast highways of New South Wales and Victoria.
In addition to opening new stores, the fundraising will assist the Company to improve distribution centres and production kitchen facilities.
Part of the funds will also be used to buy back franchises owned under the previous private structure of the company.
Chairman Mark Richardson says that while Oliver's is certainly out to generate the best returns for its shareholders, it will not do so at the expense of its mission statement.
"We're not afraid to say we're commercial and we will look after the interests of the shareholders but only within a culture providing fresh, healthy, natural, and where possible organic options for them to consume," says Richardson.
Jason Gunn says that even though he has built up other successful businesses in the past, none of them quite measure up to Oliver's.
"I love this business, I've had other businesses in the past that we're very good at making money, but they really didn't satisfy my soul," says Gunn
"Today, we live at a moment when vast numbers of people in the world are overweight, unwell, ad in many cases suffering serious degenerative disease.
"At Oliver's, we at passionate about nutrition and the benefits of eating well.
"We realise that some of the food choices we make each day have a huge impact on our personal health, as well as the health of our planet."
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Author: David Simmons