Restaurant Brands to buy 70 California stores for US$73m

Restaurant Brands to buy 70 California stores for US$73m
Jenny Ruth
Restaurant Brands is to pay US$73 million for 70 KFC and Taco Bell stores in Southern California as part of its US expansion plan.The acquisition includes 59 KFC stores and 11 combined KFC and Taco Bell stores as well as a head office facility. It is subject to the approval of Yum!, the owner of the KFC and Taco Bell brands, and also needs landlord approval for the assignment of store leases. Settlement is expected by March next year."This acquisition provides Restaurant Brands with immediate critical mass and a capable and stable organisation...

More Retail

The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024
Serato and AlphaTheta have abandoned deal
Retail

Serato and AlphaTheta have abandoned deal

The CMA said it has received written assurances from the parties. 

Rebecca Howard 24 Jul 2024
Warehouse share trading complaint filed
Retail

Warehouse share trading complaint filed

The Warehouse had confirmed a buyout proposal had been lodged.

Gregor Thompson 24 Jul 2024
Stephen Tindall supports Warehouse takeover offer
Retail

Stephen Tindall supports Warehouse takeover offer

Bid from Australian private equity firm values shares at between $1.50 and $1.70.