None
EN
KFC, Taco Bell operator Restaurant Brands attracts $554m takeover offer
['The Nightly', 'Cheyanne Enciso', 'Daniel Newell']
The West Australian
KFC, Taco Bell and Pizza Hut operator Restaurant Brands has received a $554 million takeover offer from major shareholder Finaccess Restauración to grab the remaining 25 per cent of the company it doesn’t already own.
The news on Tuesday sent Restaurant Brands shares soaring 60 per cent to $4.33 in early trade, adding over $200 million to the stock’s value.
Restaurant Brands — also listed on the New Zealand stock exchange — runs more than 520 stores across the KFC, Pizza Hut, Taco Bell, and Carl’s Jr brands in NZ, Australia, Hawaii and California.
In Australia, Restaurant Brands operates 82 KFC and Taco Bell stores.
Finaccess in April 2019 completed a partial takeover of Restaurant Brands that gave it a 75 per cent stake in the company.