Consortium Plans $1bn Global ‘Fastfish’ Food Chain

31 January 2002

Fast-food lovers around the world will soon have a new option – ‘fastfish’. That’s the plan of an international consortium led by Danish investment firm EastAvenue, which wants to launch a $1 billion global chain of outlets offering seafood-based meals and healthy snacks.

The new brand wants to take on the “high-in-cholesterol” delicacies of McDonald’s, Burger King and KFC with “low-cholesterol and healthy food,” according to EastAvenue managing director Tore Leivdal.

“Our core strategy is to create a new global brand offering light and fast seafood meals at competitive prices. Our philosophy is to be where the customer goes. We intend to locate at airports, shopping malls, and exhibition centres. In other words, to set up where most of the trade is currently going in hot dogs and hamburgers.”

The chain will, it is hoped, launch initially in Germany, France, Scandinavia, Belgium, Italy and the UK, with plans for over 1,000 eateries across Europe, Asia and North America by 2005.

“Our aim is to have a chain of self-owned outlets in place by January 2003,” continued Leivdal. “This will be followed by franchising.”

A number of ad agencies are in talks with EastAvenue regarding the chain’s roll-out. Leivdal suggested that a single launch business for all Europe may be put up for grabs, though lead brand accounts are expected to remain at the national level.

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