British convenience retail operator EG Group has acquired The Herbert Group, one of the largest KFC franchisees in the UK and Ireland.
The financial details of the acquisition were not disclosed.
The transaction includes the ownership transfer of 146 KFC restaurants and one Pizza Hut Store. EG Group also acquired Herbert Group’s development pipeline and some non-trading sites.
As agreed, approximately 4,000 Herbert Group’s employees will be transferred to the new company.
EG Group founder and co-CEO Zuber Issa said: “Securing The Herbert Group portfolio is well aligned to our long-term strategic growth plans and builds on our commitment to grow the EG Group’s presence in the food-to-go retail convenience segment.
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“The Herbert Group portfolio is a great strategic addition and complements our expanding operations in the United Kingdom and, furthermore, now allows us entry into the Irish market.”
The Herbert Group was owned by Michael and Lesley Herbert, who jointly built the franchise over the last 40 years.
With the acquisition, EG Group now operates more than 1,500 food-to-go retail concessions in ten markets.
KFC UK and Ireland general manager Paula McKenzie said: “We are pleased that EG Group has acquired these restaurants. It shows confidence in investing in KFC and comes at an exciting time for our brand, off the back of unprecedented sales growth in 2020 so far.
“The acquisition demonstrates EG Group’s ability to be a partner of choice and we are looking forward to supporting them as they unlock further investment and growth in the years ahead.”
Overall, KFC has more than 900 restaurants across the UK and Ireland.