Yum acquires 68 KFC restaurants
Johannesburg - As part of its efforts to ramp up investment in South Africa and across the continent, Yum Brands, the parent company of KFC on Wednesday announced the purchase of 68 franchise stores from franchisee Kumnandi Food Company.
KFC currently has more than 660 locations in South Africa and 190 locations on the continent. This network will exceed 1 000 this year with over 700 of those in SA.
KFC managing director Keith Warren said that the acquisition of the 68 KFC sites situated in Johannesburg, Bloemfontein and Kimberley which had taken place last November, marked an important brand milestone for the organisation.
"This is a clear demonstration of KFC's commitment to making meaningful economic contributions to the markets we operate in as we actively grow our brands," he said.
Warren added that the acquisition of the restaurants back into Yum would see Yum have equity in its own restaurants for the first time in 10 years.
"This milestone comes at an important time in the economies of the broader region and is a clear commitment by KFC to play an active role across the world's great consumer frontier," he commented.