Restaurant Brands New Zealand to Purchase KFC Stores

  • Dec 23, 2019 AEDT
  • Team Kalkine

Restaurant Brands New Zealand Limited (ASX: RBD) has entered into asset purchase agreement to purchase 70 stores in Southern California, USA. The agreement has been entered with a KFC US Franchisee.

  • Transaction includes 59 KFC Stores and 11 combined Taco Bell and KFC Stores.
  • RBD would be offering employment to all employees working presently.
  • The consideration is USD 73 million along with capex refurbishments and working capital.

By 12:57 PM AEDT, RBD was trading at $8.8, no change from the previous close.

 

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