Canada’s Pizza Pizza (PZA) quick service restaurant chain is expanding into Mexico as it looks to foreign markets for continued growth.
In a news release, Toronto-based Pizza Pizza Royalty Corp. said its restaurants will be branded “PZA Pizzeria” in Mexico and will be operated by Food Guru, a Mexican franchise operator that has experience with foreign fast-food operators and brands.
Pizza Pizza currently has more than 700 restaurant locations across Canada and has been in business for more than 55 years.
The company said it has been planning the expansion into the Mexican market for the past four years and plans to open multiple outlets in Mexico by 2024, though the exact number of locations has not been announced.
Pizza Pizza’s stock has risen 1% in the last 12 months to trade at $13.90 per share.
