Chain founder Chris Mason took over the rights to the BurgerFuel USA master franchise in 2018, after the board of New Zealand-based Burger Fuel Group decided it was not viable to expand into the US market. At the time, Mason stepped down from Burger Fuel Group’s board but retained his roughly 11 per cent stake in the company. In its statement to the stockmarket, Burger Fuel Group said the settlement avoided the likelihood of legal proceedings commencing between Mason and the board. BurgerFuel was founded by Mason in Auckland in 1995 and, as of the end of March, there were 78 BurgerFuel, Shake Out and Winner Winner stores worldwide. Burger Fuel Group reported a net profit after tax of $505,478 for the year ending March 30, a 59.1 per cent decrease on the previous year.

Source: Stuff October 23, 2020 02:48 UTC