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 chain. It is well-known for selling delicious 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 even in other countries. However, in 2014, the company faced some big challenges. Most of its stores had to close down for a while. In April 2017, a company called United Petroleum bought Pie Face. After that, between 2018 and 2020, Pie Face opened more than 200 new locations across Australia. By December 2020, Pie Face had 240 places where you could buy their food.
The Story of Pie Face
Pie Face began its journey in 2003. It quickly became very popular and opened many stores. After setting up shops in Australia, Pie Face expanded to New York City in the United States in 2012. It also opened stores in New Zealand in late 2013. At its busiest time, Pie Face had 80 stores 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, about A$35 million, from investors. These investors hoped the company would become big enough to be listed on the stock market.
In November 2014, Pie Face ran into serious financial trouble. This meant they needed special help to manage their business. Before this, they had thought about becoming a public company worth $150 million. They also had plans to open stores in Asia, Europe, and the Middle East. In December 2014, the company managed to get more money. This helped them keep trading. However, they decided to focus more on selling their products to other businesses and in supermarkets. Many of their company-owned and franchised stores had to close, and many people lost their jobs.
Pie Face faced more difficulties in late 2016. They closed eleven more company-owned stores. By November 2016, about 26 franchised stores were still open.
In January 2017, there was good news: the chain was getting closer to making a profit again. They had 30 franchised stores and wanted to expand overseas once more, especially in Japan and South Korea. However, all the Pie Face stores in New Zealand closed by the end of 2017.
In April 2017, United Petroleum bought Pie Face. The exact amount they paid was not shared. After this, United Petroleum started selling Pie Face products at many of its petrol stations. This made it easier for people to grab a pie or sausage roll while filling up their cars.
See also
