KFC has announced that it will acquire 218 restaurants from its largest franchisee in the UK and Ireland, EG Group, as part of its expansion plans. The deal, which is expected to close in the first half of 2024, will see KFC take over all 7,800 staff across the sites, most of which are drive-throughs.
The fried chicken chain, which is owned by Yum! Brands, the parent company of Taco Bell and Pizza Hut, currently operates 1,040 outlets in the UK and Ireland and aims to open 500 more by 2030.
Sabir Sami, KFC division chief executive officer, said the company was close to becoming a £2b business in the UK and that the KFC business was a “powerhouse” for Yum! globally.
EG Group, which is owned by the billionaire Issa brothers who bought Asda in 2021, said the proceeds of the sale would be used to repay some of its debt.
Asda took over much of EG Group’s UK business, including the Leon restaurant brand and over 400 Greggs, Burger King and Subway restaurants run under franchise, in October.