Restaurant Brands New Zealand (RBD) has announced a conditional agreement to buy the largest KFC franchise in NSW for $82.4 m. 

The deal will see RBD acquire 100 per cent of shares in Quick Service Restaurant Pty Limited (QSR), which owns and operates 42 KFC stores in NSW, according to an Inside Retail report.

QSR’s KFC stores are located in Sydney and NSW regional locations.

“The acquisition is an opportunity for Restaurant Brands to gain a scale position in the New South Wales quick service restaurant market, leveraging our strong relationship with Yum! Restaurants International and successful track record owning and operating KFC stores,” said Ted van Arkel, RBD chairman.

RBD runs KFC, Pizza Hut, Starbucks and Carl’s Jr franchises in New Zealand, of which KFC is its biggest player in the fast food industry, generating almost three-quarters of sales.

 “We see the acquisition as an opportunity to expand RBD’s geographical footprint of KFC stores in a market with considerable further expansion opportunities,” said RBD chief executive, Russel Creedy.

RBD expects to settle the transaction by the end of April pending approval from master franchisor Yum! Restaurants International.