Craveable Brands management hits the road, Morgans' network up first
Red Rooster owner Craveable Brands' management is in front of potential investors on Tuesday, as it ramps up plans for a $200 million-odd initial public offering.
Red Rooster owner Craveable Brands' management is in front of potential investors on Tuesday, as it ramps up plans for a $200 million-plus initial public offering.
Craveable Brands' team headed by chief executive officer Brett Houdin kick off its management roadshow in Brisbane on Tuesday, where it will address Morgans' retail broker network.
It is understood Morgans lines up as a co-lead manager on the fast food company's float, joining lead managers Goldman Sachs and Morgan Stanley in the Craveable Brands tent.
Houdin and his team are expected to meet institutional investors in Sydney and Melbourne later this week.
The meetings come as Craveable Brands owner Archer Capital prepares the company for a sharemarket listing, expected early next month.
The company is the rebadged Quick Service Restaurant Holdings and master franchisor of Red Rooster, Oporto and Chicken Treat fast food restaurants.
Craveable Brands is forecast to make $52.5 million in earnings before interest, tax, depreciation and amortisation in the 2018 financial year, up from $46.4 million in the year to June 2017.
The management roadshow only one week after brokers Goldman Sachs and Morgan Stanley launched the formal IPO marketing with the release of detailed analyst reports to fund managers.
The float's pricing and size is yet to be determined.