Franchisee business Collins Foods snaps up more KFC outlets
Collins Foods is buying 13 KFC stores in the Victoria and New South Wales border region.
The acquisition set for July is estimated at $25.46m plus costs, including $10m in Collins Foods shares.
The purchase will bring the company’s portfolio to 191 outlets across the KFC and Sizzler brands, and enhances Collins Foods as the largest KFC franchisee in Australia.
According to Inside Retail, Graham Maxwell, Collins Foods CEO, said “We are committed to delivering on our growth strategy, and this acquisition is entirely consistent with how Collins Foods approaches acquisition opportunities to ensure they add value for shareholders.”
Previously the business had acquired from Competitive Foods 42 KFC restaurants in Western Australia and the Northern Territory.