Wroclaw, Poland, 2017-Jan-26 — /EPR Retail News/ — AmRest Holdings SE („AmRest”, “the Company”) (WSE: EAT), the largest publicly listed restaurant operator in Central Europe, announces signing on January 24th , 2017 a Share Purchase Agreement with Top Brands NV aimed at the acquisition of Pizza Hut Delivery business in France.
On the basis of the agreement AmRest will purchase 100% shares of Pizza Topco France, being the exclusive master franchisee of Pizza Hut Delivery restaurants in the French market. Estimated purchase price is ca. 14 million (approx. PLN 61 million) and will be confirmed at the transaction closing. Intention of the SPA parties is to finalize the transaction within next couple of months, which is a subject to closing conditions, including conclusion of a master franchise agreement with Pizza Hut brand owner – Yum! Restaurant Holdings.
Currently Pizza Topco operates 123 Pizza Hut Delivery restaurants. 7 locations are the equity business, the rest are franchisee managed restaurants.
France is not a new market for AmRest. The Company entered that country while acquiring La Tagliatella business in 2011. Management Board is enthusiastic about the opportunity to significantly strengthen AmRest presence in that potential market.
“We are very excited about this huge opportunity of creating and building the future of Pizza Hut brand in France. This is another step in strengthening our presence in Western Europe as well as strategic milestone in building nr. 1 delivery business in Europe. We are honored to welcome so many great people in our AmRest family. I am sure that together we will bring a lot of fun to our customers lives.” – said Monika Czyż, Pizza Hut Delivery&Express President at AmRest.
The transaction is a perfect match for AmRest’s plans of accelerated development of the Pizza Hut brand, initiated by signing in August 2016 the master franchise agreement for Central and Eastern Europe. The expansion plans for France assume development of both the Pizza Hut Delivery and Express concepts.
The Management Board is confident that the addition of Pizza Hut Delivery business in France will result in value creation for the Company’s shareholders.
+48 71 386 1235
Source: AmRest Holdings SE