Yum Brands to acquire over 200 KFC outlets in Europe
Date
12/10/2023 6:55:06 AM
(MENAFN) Yum Brands, the American parent company of Kentucky Fried Chicken (KFC), has unveiled an ambitious plan to acquire over 200 KFC outlets in Europe. The strategic move involves the purchase of KFC branches from AG Group, the largest KFC franchisee in the United Kingdom and Ireland. While the financial details of the transaction remain undisclosed, the Acquisition is poised to significantly bolster KFC's expansion strategy in the UK and Ireland.
The agreement marks a pivotal step for KFC's growth trajectory in the region. The acquisition of more than 200 outlets from AG Group is expected to contribute to KFC's strategic objectives, providing a substantial boost to its market presence. The move aligns with KFC's commitment to capitalizing on growth opportunities and enhancing its footprint in key European markets.
KFC's recent performance in the United Kingdom and Ireland serves as a positive backdrop to this expansion endeavor. The company reported a commendable 7 percent increase in sales in the region, coupled with a 5 percent rise in same-store sales across its existing 1,040 restaurants. These encouraging figures underscore the brand's popularity and consumer appeal, positioning KFC for further success as it embarks on this significant acquisition.
The strategic acquisition is indicative of Yum Brands' commitment to fostering the global growth of its renowned fast-food chain. With KFC's continued popularity and a focus on strategic acquisitions, Yum Brands aims to solidify its position in key markets, offering a compelling proposition for both existing and prospective customers.
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