KFC is set to purchase 218 franchised restaurants in the U.K. and Ireland from EG Group, as stated in a press release.
Currently, the brand runs 50 restaurants that it owns directly in both countries.
KFC in the U.K. and Ireland has demonstrated a robust history of sustained growth, which has persisted this year. System sales have increased by 7%, and same-store sales have risen by 5% across its 1,040 restaurants.
From 2018 onwards, KFC has launched 200 restaurants in the U.K. and Ireland. The company has also revealed its intention to open an additional 500 restaurants in the market by 2030.
“The KFC business is a powerhouse for Yum! globally and the UK and Ireland is one of our strongest markets,” Sabir Sami, KFC Division CEO, said in the release. “Over the past five years, we’ve secured our leadership position within the U.K. and Ireland chicken market, opening 200 new restaurants, and we’re now close to being a £2 billion business in the U.K., thanks to our extremely talented local management team. We’re pleased to add these restaurants to our equity portfolio, in a market where we are well placed to drive strong growth while also making further digital and strategic progress.”
“We are proud to have been a strategic partner of KFC in the U.K. and Ireland, playing an important role in helping the brand expand its footprint,” Zuber Issa and Mohsin Issa, CBE co-founders and co-CEOs of EG Group, said in the release. “Now is the right time to hand the baton to the KFC leadership team to continue to grow the brand in the U.K. This is the latest transaction in our significant deleveraging this year — to put in place a sustainable capital structure. I would like to thank all the colleagues who have helped deliver such exceptional brand standards and customer service over recent years, including during the COVID-19 period.”
Currently, KFC runs a network of more than 1,000 restaurants throughout the U.K. and Ireland, employing a team of 27,000 members in both regions.
