Oliver's Real Food (ASX:OLI) has signed a Heads-of-Agreement to secure two Quick Service Restaurants located on the Hume Highway near Pheasants Nest, NSW, 100km south of Sydney.
The stores are expected to open in the September quarter of 2023, with preliminary forecast numbers to be released once the leases are signed.
The Board has confirmed support from their principal lenders for the establishment of the stores, and its CEO, Natalie Sharpe expressed high expectations for the stores' future revenue and profitability.
Shares of Oliver's Real Food were up 26% at 2:30pm AEST.