Carl's Jr. aims to treble size by 2020

The NZX-listed company bought the New Zealand rights to American fast-food brand Carl's Jr in 2011, opening its first store the following year.

It has since expanded to 18 stores in the North Island, netting $200,000 in earnings before interest, tax, depreciation and amortisation and a 40 per cent increase in sales to $20.1 million.

Creedy said sales at the burger chain would continue to grow as the company looked to expand the brand to an initial 60 stores in the next five or six years.

'It's [had] very rapid growth,' Creedy said. 'I think the market could easily take 60 stores, that's an initial target for me.'

'If you look at competitors, they have around 80-plus stores - KFC has close to 100 and McDonald's around 160, so 60 is a pretty realistic first target,' he said.