- Oliver’s Real Food (OLI) is set to open two new stores on the Hume Highway at Pheasants Nest in New South Wales
- The new stores are under construction and expected to start trading in the September quarter of 2023
- OLI CEO Natalie Sharpe says this marks a “significant step” for the company as it focuses on growing its business
- The Hume Highway is one of the busiest in the country, and the company aims to bolster its future profitability through the new stores
- Shares in OLI are up 26.32 per cent and trading at 2.4 cents at 11:44 am AEDT
Oliver’s Real Food (OLI) is set to open two new stores on the Hume Highway at Pheasants Nest in New South Wales.
The company has signed a heads-of-agreement (HOA) to bolster its existing offering with two quick service restaurants (QSR).
With a QSR southbound and northbound store, OLI CEO Natalie Sharpe said the company would benefit from one of the busiest highways in the country.
“This marks a significant step for the company as we focus on growing our business,” Ms Sharpe said.
“The Hume Highway south of Sydney is one of the busiest in the country, and we have high expectations for revenue and contribution to the company’s future profitability”.
The company said construction had commenced, and it expected trading to begin in the September quarter of 2023.
OLI also expects leases to be finalised within the coming weeks.
The company added that its new stores would showcase the latest store configuration, including all its new initiatives and styles it has been working towards.
Oliver’s Real Food currently has 18 restaurants across Australia’s east coast and offers its products at almost 200 EG petrol stations nationwide.
Shares in OLI were up 26.32 per cent and trading at 2.4 cents at 11:44 am AEDT.