4Fingers acquires a 50% stake in Aussie based Mad Max
Following from the departure of CEO Steen Puggaard, 4Fingers has continued to expand its international reputation and operations across the Australian market, launching its first store in Melbourne in 2017.
In order to further cement its presence in the Australian market, the company has recently bought a 50% stake in Australian eatery, Mad Mex Fresh Mexican Grill.
Nicknamed Mad Mex, the move will enable the business to further expand the company’s outlets across South East Asia, developing outlets in Singapore and Malaysia, providing a unique menu, with flavours inspired by Chinese and Korean cuisine.
The move will also see the business transform its supply chain capabilities and offer greater choice to its customers.
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“Mad Mex is the second key brand in the 4Fingers Group. We are currently on the lookout for a third brand to complete this platform; a brand with similar characteristics to 4Fingers and Mad Mex - strong, established, profitable and fast-growing that is easily scalable and has global potential,” commented Vijay Sethu, Director of 4Fingers.
A leading food and beverage business within Australia and New Zealand, 4Fingers focuses on it focuses on “unique branding and customer experience – from music to interior design – and a healthy, sustainable, freshly prepared product that’s a far cry from a deflated drive-thru burger and fries,” according to Business Chief.
As a result of the acquisition, Mad Mex founder and majority shareholder, Clovis Young, will remain CEO of Mad Mex and retain a 50% stake in the business.
“In 2018 we refocused on our core healthy positioning with the introduction of Kombucha, activated charcoal tortilla, a vegan-friendly Veggie Rancheros protein, and vegan cheese,” he adds.
“Mad Mex has always been a favourite of gluten-free, dairy-free customers, but now that we offer our full range in vegan options, we are fast becoming a preferred dining option for the increasingly popular vegan and flexitarian consumers.”