An Australian bakery chain is set to expand into the UK market, according to the latest reports.
As revealed by British Baker’s sister title M&C Report, Pie Face currently operates 75 Australian sites within its estate, and has made enquiries to property advisors for locations in central London.
Other international destinations, such as Japan, Indonesia and New Zealand, are also thought to be regions the business would to target as part of its expansion.
Wayne Homscheck, co-founder of Pie Face, told British Baker that the company was only at the research stage of looking to move into the UK and no firm plans were in place as yet. He added that potential movements into this market would be clearer at the end of the year.
Pie Face was set up by Homscheck and Betty Fong back in 2003 and has since launched in the US, with its first site in New York City. The business serves a range of both sweet and savoury baked goods, including pies, pastries and sandwiches.
Steve Wynn, chief executive of US hotel resorts business Wynn Resorts, took a $15m (£9.5m) stake in the bakery and café chain and now has a first right to invest in any other international deal, including a listing.
Pie Face is looking to open 500 outlets in Australia during the next five years, and operate a further five locations in the US by the end of this year.