Restaurant Brands buys California chain at opportune time: CFO Ellis

Tue, 24 Dec 2019

Restaurant Brands' US$73 million-plus purchase of KFC and Taco Bell stores in Southern California allows the company to buy at low multiples a business that has just passed a low point, according to chief financial officer Grant Ellis."In the last couple of years, it has had quite a massive turn-around," Ellis told BusinessDesk. "It's a business that's gone through the bottom of its curve and is ascending and gathering brand strength."The purchase price for 70 stores - 59 of them KFC and 11 combined KFC and Taco Bell stores - and a local head o...

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