The Euro Garages Group recently announced the acquisition of 52 KFC restaurants in the United Kingdom from Amsric Group for an undisclosed amount. The acquired network, across the south and south-west regions, encompasses more than 1,600 staff members between both drive thru and traditional restaurants.
“Acquiring the Amsric portfolio further strengthens our customer proposition and is highly complementary to our existing operations, and our long-term growth plans for our foodservice business,” said Mohsin Issa CBE and Zuber Issa CBE, co-founders and co-CEOs of EG Group.
“Even during the pandemic, KFC moved quickly to assess and adapt in order to embrace the rapidly evolving environment. We have seen a marked upward trend in the performance of our existing KFC network and this has given us confidence to consider and invest in more assets,” added the duo.
“The network we have acquired is a strong portfolio of assets and we are looking forward to working with the Amsric management team and KFC to ensure a smooth transition for the teams and an effectively managed transfer of operations and assets.”
This follows from another record deal struck in March, 2020 which saw the EG Group acquire the largest KFC franchise in the UK and Ireland from the Belfast based, The Herbert Group.
Paula MacKenzie, General Manager of KFC in UK and Ireland said, “EG Group’s commitment to investing not only in the existing restaurants, but also in growth through the development of new locations reinforces the strength of our brand, and of KFC as a world-class franchisor."
The EG Group was founded in the UK by the Issa family in 2001. It has since grown to 6,000 sites which operate across 10 international markets, serving over 23 million customers per-week.
KFC itself is still owned by Yum! brands, who is the global franchisor for KFC, Pizza Hut and Taco Bell. There are opportunities to invest in KFC franchises across Europe, with some limitations applying due to prior regional agreements.
To find out more, contact us or KFC directly. Investors must have previous food and beverage operating experience and have an ambition for growth. Investment starts from about £2 million in liquid capital, with an additional £5 million in assets required.
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