6 May 2011

Takeaway chain moves into Iraq

3:55 pm on 6 May 2011

Burger Fuel has now moved into Iraq.

The New Zealand takeaway chain already operates stores in the United Arab Emirates, Saudi Arabia and Bahrain.

It has sold a license agreement to an Iraqi consortium that also owns half of Iraq's North Bank financial institution, and half of Pepsi Iraq.

The first store in Iraq will open in the north of the country, in Iraqi Kurdistan, which has its own separate democratic government.

Chief executive Josef Roberts says Burger Fuel wants to take advantage of its non-American, pure New Zealand position where it can.

Shares in Burger Fuel, which are listed on the alternative market, are unchanged at 38 cents.