Noodle Box acquires Wok in a Box
Noodle Box, Australia’s largest noodle-based quick-service restaurant (QSR) franchise, today announced agreement has been reached to acquire the nation’s 2nd largest noodle based restaurant chain, Wok in a Box with settlement expected on October 12th.
The acquisition will consolidate Noodle Box as one of Australia’s leading franchise networks with over 100 restaurants nationally.
Wok in a Box which operates 32 franchise restaurants predominantly, in Western Australia and South Australia, is a “near perfect strategic fit as Noodle Box moves towards becoming a world class franchise restaurant chain,” explained Noodle Box Chief Executive, Ian Martin. “The acquisition is a continuing part of our strategy to expand our brand reach more widely across the country as we continue to provide authentic, high quality and healthy noodle-based meals served by well trained and friendly team members in an inviting and relaxed environment.”
Ian believes the noodle-based QSR sector in Australia is ready for consolidation, and that the Noodle Box business is perfectly placed to capitalise upon the prevalent opportunities. He outlined that the strategy to enhance Noodle Box business’ growth through acquisition has excellent synergistic benefits, without incurring fundamental changes to the Noodle Box streamlined business structure.
“We are excited to welcome the existing Wok in a Box franchise partners and their teams to the Noodle Box family and look forward to working with them and our current Noodle Box franchise partners as we continue on our journey to provide profitable growth opportunities for all stakeholders,” said Ian.
The Wok in a Box acquisition follows Noodle Box’s international expansion activities after signing a Master Franchise Agreement with the Himmah Foods Company to open 65 restaurants over the next 5 years in the Middle East Region and the recent signing of an MOU to enter the Indian market. The first 3 restaurants in the Middle East have already successfully opened with a further 2 currently under construction.
About Wok in a Box
The first Wok in a Box restaurant opened in Norwood, Adelaide in 2002. It received an overwhelming response among consumers who love fresh and quality Asian cuisine, as Wok in a Box offers cooked meals with fresh ingredients, prepared by trained chefs! Since then, this has become the winning formula that made the way for the opening of Wok in a Box restaurants across Australia.
As of now, there are already more than 30 Wok in the Box stores throughout the country. With more than a million food orders every year, there is no doubt that consumers favour a casual dine-in experience just like what Wok in a Box offers. And as customers keep coming back to experience Wok in a Box, the franchise is bound to grow bigger in the coming years.
Want to be a part of the Wok in a Box franchise group? Learn more about the business, here.