Taco Bell will next year launch in New Zealand, Restaurant Brands announced yesterday.
While the prices are at this stage unknown, Restaurant Brands chief executive Russel Creedy said the prices would be cheaper than the cost of other Mexican (and Tex-Mex) food available on the market.
"Mexican chains to date are perceived as fairly expensive and it's no secret that Taco Bell's generally able to fit in below that level. We're certainly not looking to price above or even on parity," Creedy said in response to questions of $15 burritos sold at other Mexican food operators.
"Once we look at the market and the actual costs of operating I'm sure we'll settle on a place which is better value and a better experience."
If the prices of Taco Bell in Australia are anything to go by a burrito or taco meal at the Mexican-style fastfood outlet will set you back around A$10 or $9 for a quesadilla.
Nachos will cost around $10, and there is also a snack menu offering cheesy swirls and crunchy tacos for $2.
The Herald has approached Restaurant Brands for further comment on its pricing.
It's worth noting, however, that Restaurant Brands may roll out a different pricing strategy in the local market.
In the US, for instance, Taco Bell is known for its cheap as chips prices.
Standard-size burritos sold at the fast-food chain in the States cost around US$2 but there are also cheaper options sitting around the $1 and $1.19 mark. Its highest-priced burrito is $4.19.
It also has a large $1 menu.
NZX-listed Restaurant Brands has plans to open 60 Taco Bell stores in Australasia by 2024 with roughly one third in New Zealand and the rest in Australia.
Creedy said the casual dining restaurants would open in high-foot traffic areas.
Downtown Auckland is the ideal location for a first store, which could open as early as July next year, he said.
"We hope to get [the first] open as early as possible but realistically I'd say in the second half of the year, maybe in the third quarter."
The company is eyeing Sydney for its first New South Wales store.
Restaurant Brands already operates 36 Taco Bell stores spread throughout Hawaii and Guam. Together those stores generated $19.4 million to the group in the last financial year.
Restaurant Brands operates Carl's Jr, Pizza Hut and KFC in New Zealand. It recently sold off its Starbucks business to investment company Tahua Capital for $4.4m.