Pizza Pizza Royalty Ltd. has made a significant move by opening its first set of stores in Mexico, and the company’s CEO, Paul Goddard, holds an optimistic outlook for its Mexican operations, believing they could eventually surpass its Canadian presence.
In Mexico, the fast-food chain has been rebranded as PZA Pizzeria and is being operated by Food Guru, a multi-brand franchise with extensive experience in the quick-service restaurant industry. Leveraging this expertise and the positive data received, Pizza Pizza sees a potential for substantial growth in its Mexican operations, as highlighted by Paul Goddard, the president and CEO of the company.
During an interview with BNN Bloomberg’s Jon Erlichman, Goddard expressed excitement about the prospects, stating that the Mexican market might one day outgrow Canada. This ambitious vision is fueled by strategic data points, including high pizza consumption in Mexico and the country’s rapid compound annual population growth, which is approximately twice as fast as Canada’s.
The expansion into Mexico has been a well-planned process, taking four years to materialize. With the favorable market conditions, Pizza Pizza aims to establish multiple PZA Pizzeria stores across Mexico by 2024.
Moreover, the Canadian brand appears to be warmly welcomed in Mexico, with Goddard noting a special affinity and love for Canada and Canadian brands among the Mexican consumers.
Pizza Pizza currently boasts over 730 restaurants across Canada and has been serving customers for more than 55 years, making this move into the Mexican market a significant step in the company’s growth and expansion strategy.