Odd Burger Corporation (OTC:ODDAF), touted as the first vegan fast-food chain to go public, has partnered with real estate and franchise development company Starke Investments to open 40 new locations across Ontario.
What Happened: Starke Investments agreed to oversee franchise sales to individual owners, store construction and provide support for franchisees in its territory.
"Starke Investments is always looking for opportunities to position itself as a leader in sustainability and innovation and Odd Burger is without a doubt disrupting an industry where change is so desperately needed," said Prashant Dalal, founder and CEO of Starke Investments. "We see tremendous potential with Odd Burger because they make plant-based food that appeals to the mass market by offering a menu made with simple ingredients, incredible flavor, and at a competitive price point – this is not something that we have seen with any other plant-based restaurant brand."
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Why It Happened: Odd Burger is expanding. In Ontario, Odd Burger currently has operational locations in Toronto, where it's based, as well as London, Windsor, Vaughan, Waterloo, Hamilton and Whitby. In March, the company signed an area representative agreement with Sai-Ganesh Enterprises to bring 36 locations to Alberta and British Columbia over the next seven years, adding to its current tally of 92 locations across Canada.
The company is also seeking area representatives in the U.S. So far, New York City is expected to be the first U.S. city where Odd Burger will set up shop.
"Partnering with Starke Investments will allow Odd Burger to continue its rapid expansion across North America, while still providing an incredible level of service to our local franchisees in Ontario," said James McInnes, Odd Burger co-founder and CEO. "Starke Investments also brings fantastic industry knowledge to Odd Burger, as well as a valuable network of landlord relationships and prospective franchisees."
