Quick-service noodle restaurant franchiser Noodle Box looks set to gain a much greater presence in Western Australia after reaching an agreement to acquire competitor Wok in a Box.
Noodle Box, which has one restaurant in WA, will buy Wok in a Box for an undisclosed sum, and will take control of the target’s 32 franchise restaurants in Australia, 13 of which are in WA.
It will place Noodle Box at about #58 on the BNiQ list of franchises, ranked by number of franchises in WA.
“Wok in a Box is a near-perfect strategic fit as Noodle Box moves towards becoming a world-class franchise restaurant chain,” Noodle Box chief executive Ian Martin said.
“The acquisition is a continuing part of our strategy to expand our brand reach more widely across the country as we continue to provide authentic, high-quality and healthy noodle-based meals served by well trained and friendly team members in an inviting and relaxed environment.
“We are excited to welcome the existing Wok in a Box franchise partners and their teams to the Noodle Box family and look forward to working with them and our current Noodle Box franchise partners as we continue on our journey to provide profitable growth opportunities for all stakeholders.”
The acquisition will grow Noodle Box’s national network of about 70 restaurants to more than 100.
The deal is expected to be settled on October 12.
