Pie Face facts for kids
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| Subsidiary and franchise system | |
| Industry | Restaurant |
| Founded | 2003 |
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Key people
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Nilan Jayasuriya, CEO |
| Products | Coffee, pies and soft drinks |
| Owner | United Petroleum (2017–present) |
Pie Face is an Australian food company. It is well-known for selling tasty pies, sausage rolls, and coffee. The company started in 2003 in Sydney, Australia. It was founded by Wayne Homschek.
Pie Face grew very quickly in Australia and other countries. However, it faced some financial problems in 2014. Many of its stores had to close down. In April 2017, a company called United Petroleum bought Pie Face. Between 2018 and 2020, Pie Face opened more than 200 new locations across Australia. By December 2020, Pie Face had 240 stores operating.
Contents
The Story of Pie Face
How Pie Face Started and Grew
Pie Face began in 2003. It quickly became popular and opened many stores. After setting up shops in Australia, it expanded to New York City in 2012. Then, in late 2013, it opened stores in New Zealand.
At its busiest time, Pie Face had 80 stores. These were in Australia and the United States. The company even planned to open 100 more stores around the world. Pie Face received a lot of money from investors. These investors hoped the company would become very successful.
Facing Challenges and Changes
In November 2014, Pie Face ran into serious financial trouble. It was facing legal issues in both Australia and the US. Before these problems, the company was thinking about selling shares to the public. This would have made the company worth a lot of money. It also had plans to open stores in Asia, Europe, and the Middle East.
Pie Face managed to get more money in December 2014. This helped it to keep operating. However, the company changed its main focus. It started selling more products to other businesses and in supermarkets. Many company-owned and franchised stores closed down. This meant many people lost their jobs.
Pie Face faced more financial difficulties in late 2016. Eleven company-owned stores closed again. By November 2016, about 26 franchised stores were still open.
New Ownership and Future Plans
In January 2017, reports said Pie Face was getting closer to making a profit. It had 30 franchised stores. The company wanted to expand overseas again. It planned to focus on Japan and South Korea.
In April 2017, United Petroleum bought Pie Face. The amount of money paid was not made public. After this, United Petroleum started selling Pie Face products. You can now find these products at many of their petrol stations.
Pie Face, along with its parent company, United Petroleum, is planning something new. They want to start a food making business in Sri Lanka. They plan to invest a lot of money in this project. It will be managed by United Petroleum's local company in Sri Lanka.
See also
- Australian meat pie
