Collins Foods completes German KFC expansion
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The news: Collins Foods has completed the acquisition of eight KFC restaurants in Germany’s Bavaria region, following its announcement earlier this year.
The context: The company said the acquisition from JJ Restaurant GmbH & Co will strengthen its position in Germany, increase scale in one of the country’s most populous regions, and support its goal to establish Germany as its second growth pillar.
Centred around Munich, the acquisition portfolio is projected to increase Collin Foods’ German network by approximately 50%. The acquisition will also bring further opportunities across the Bavarian region as the company continues to see long-term growth potential in Germany.
Collins Foods said the newly acquired restaurants will operate at higher margins than its existing German restaurants, with financial contributions to be consolidated into its results from 1 June.
What they said: “This acquisition marks another important milestone in our German growth strategy. The additional scale created enhances our operational presence and positions us well to accelerate growth further in this key market,” CEO Xavier Simonet said.
The source: ASX
