EG Group is selling all its 218 KFC franchise restaurants in the UK and Ireland to Yum! Brands’ KFC Division.
The transaction agreed by EG Group – the largest KFC franchisee in the UK and Ireland – is an additional step in the company’s strategy to reduce its debts.
EG Group continues to operate in the US, Australia, Germany, France, Italy, the Netherlands, Luxembourg, Belgium and the UK, including its wholly-owned bakery business, Cooplands, as well as franchise businesses with the Starbucks, Subway, Greggs, Sbarro, Chaiiwala and Cinnabon brands.
Zuber Issa and Mohsin Issa, CBE co-founders and co-CEOs of EG Group, said: “We are proud to have been a strategic partner of KFC in the UK and Ireland, playing an important role in helping the brand expand its footprint. Now is the right time to hand the baton to the KFC leadership team to continue to grow the brand in the UK and Ireland. This is the latest transaction in our significant deleveraging this year to put in place a sustainable capital structure for the group.”
