BBQ Factory set for expansion amid bid threat

New Zealand barbie retailer BBQ Factory is planning to heat up expansion plans after reaping sizzling returns at recently opened stores.

The chain, in the midst of a takeover bid involving Kiwi retail entrepreneur Wayne Walden, has 19 stores.

It plans to open another 10 Megastores in the next five years, after half-year revenue targets were gobbled up in just four weeks at the latest Megastore in Pakuranga, according to local press reports.

The barbecue specialist also managed to stoke up growth, despite the country being in the middle of its winter season.

StoreFund, where Walden is a director, has agreed to pay NZ$21.2 million (£7.3 million) for the chain. It is conditional on the result of an initial public offering, which closes today.

The retailer plans to relocate small stores to larger sites.