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

Mon, 23 Dec 2019

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...

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