Taco Bell to open 50 new Australian stores

Mexican food goliath Taco Bell has revealed plans to take Australia by storm, with more than 50 new stores in the pipeline across the country.

The fast food chain, which currently has only one store operating in the country – at Annerley in Brisbane – revealed earlier this year it planned to open three new stores at North Lakes, Robina and Cleveland before the end of 2018.

But those plans have now been expanded significantly, with Collins Foods announcing it has entered into an agreement with Taco Bell’s owner Yum! Brands to roll out more than 50 new stores nationwide.

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While the company is so far being coy on where the stores will be located, Collins Foods confirmed they will expand beyond Queensland and into “multiple states”.

The stores will open over the next three years, with completion dates set between January 1, 2019 and December 31, 2021.

In an announcement through the ASX, Collins Foods CEO Graham Maxwell says they believe there is a growing appetite for Taco Bell restaurants in Australia.

“We have seen tremendous enthusiasm for the Taco Bell brand in Australia, and this is reflected in the continued strong development of our Annerley restaurant,” Maxwell says.

“We believe in the significant growth potential of Taco Bell, and are pleased to have the strong confidence of Yum! Brands to grow Taco Bell’s presence across Queensland and into other markets.”