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KFC stores change hands

 

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Exclusive: Founding principals set sail for long-standing Aus firm:

KFC stores change hands

David.Zwi

Three national firms have advised on the $82.4 million sale of KFC stores.

Firms: Thomson Geer (QSR); Harmos Horton Lusk Limited (Restaurant Brands Limited); Corrs Chambers Westgarth (Australian due diligence for buyer)

Deal: QSR sold 100 per cent of shares in the company, which owns and operates 42 KFC stores in NSW, to New Zealand Stock Exchange-listed Restaurant Brands Limited. 

Value: $82.4 million 

Area: M&A 

Key players: The Thomson Geer team was led by partner David Zwi and supported by lawyers Alexandra Adams and Fiona Ho. 

Deal significance: QSR is owned by interests associated with the Copulos Group and generates sales in excess of $A100 million per annum. 

QSR’s KFC stores are located in urban Sydney and NSW regional locations. QSR has been a KFC franchisee for the past 17 years and has the largest number of KFC stores in NSW.

The value of the transaction is made up of approximately $60 million in cash and the balance in RBD shares.

The transaction is expected to settle by the end of April.

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