Wroclaw, Poland, 2016-Dec-02 — /EPR Retail News/ — AmRest Holdings SE („AmRest”, “the Company”) (WSE: EAT), the largest publicly listed restaurant operator in Central Europe, announced today (1st December 2016) that on November 30th, 2016 the Company signed an agreement with Kentucky Fried Chicken (Great Britain) Ltd., German Branch to acquire 15 of its equity stores in a EUR 10.3 million deal. The transaction is subject to customary regulatory approvals and closing conditions, which are expected to be satisfied within next couple of months.
In the opinion of Management Board of AmRest, this acquisition will accelerate the Company’s journey towards market leading position in Europe. Upon closing of the transaction, AmRest will further reinforce its position in prospective German market, where it already operates Starbucks and La Tagliatella brands.
“We are very happy about the opportunity which this agreement brings to AmRest and KFC brand. The 20+ years of experience in operating KFC restaurants by AmRest in a multicountry environment together with the great expertise of our Yum! partner in Germany gives us high confidence that this partnership will create a lot of value in the future for our guests, employees and shareholders. Our vision for Germany assumes rapid expansion over the next few years as the KFC brand is really well accepted by German Customers. We are also confident that our commitment to excellence in the way our restaurants are operated will help us elevate the Customer’s experience even further” – said Olgierd Danielewicz, KFC Brand President at AmRest.
Insa Klasing, General Manager KFC Germany commented: “AmRest has proved to be an extremely strong partner for KFC in our other European markets, and not only brings substantial financial resources with it, but also considerable know-how and a shared value system”.
AmRest’s intention is to leverage its strong expertise in operating KFC brand, acquired by operating more than 500 restaurants in 8 European countries, to substantially expand scale of this business in Germany. This transaction represents a perfect match with AmRest’s strategy and a true opportunity to enhance AmRest’s growth profile, which shall result in value accretion for the Company’s shareholders.
For further information please contact:
IR and M&A Manager
+48 71 386 1246
Source: AmRest Holdings SE