NZ’s Restaurant Brands acquires Australian KFC stores
New Zealand’s Restaurant Brands has acquired 10 Australian KFC sites from Yum! Brands.
All 10 of the sites are located in New South Wales and cost Restaurant Brands a total of AUD $27.5 million to acquire.
Restaurant Brands is responsible for a number of fast food outlets including 92 New Zealand KFC stores, 34 New Zealand Pizza Huts, 24 Starbucks, 19 Carl’s Jr, 37 Hawaiian Taco Bell’s and 45 Hawaiian Pizza Huts. Restaurant Brands owned 47 Australian KFC stores prior to the 10-store acquisition.
Restaurant Brands is listed on the New Zealand Stock Exchange (NZX).
Chairman of Restaurant Brands, Ted Arkel, said the acquisition was another step towards building a significant presence in Australia.
“On a full year basis, the acquisition is expected to generate sales of $A29 million and an EBITDA (pre-G&A) of $A4.5 million,” Restaurant Brands said in a NZX statement.
Restaurant Brands is the largest KFC franchisee in New South Wales.
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