New Zealand’s Restaurant Brands rings in big international acquisition
New Zealand’s Restaurant Brands has acquired Pacific Island Restaurants, the sole Taco Bell and Pizza Hut franchise in Hawaii.
The acquisition occurred for USD $105 million.
The Pacific Islands Restaurants network includes 37 Taco Bell stores and 25 Pizza Hut outlets.
Prior to the acquisition, Restaurant Brands had 215 takeaway chains across New Zealand and Australia, including KFC, Pizza Hut, Starbucks and Carl’s Jr stores.
Restaurant Brands excited to get access to Taco Bell
Restaurant Brands Chairman, Ted van Arkel, said Taco Bell and Pizza Hut are both well-established franchises and are leaders in the Mexican and pizza quick service food categories in Hawaii.
“In particular, Restaurant Brands is excited to gain exposure to Taco Bell, a brand with attractive margins and a product offering that has worldwide appeal,” Arkel said.
“We have nearly 20 years’ experience successfully operating the Pizza Hut brand in New Zealand and will look to leverage this experience to drive the Hawaiian franchise’s continued performance,” he said.