British convenience retail operator EG Group has acquired The Herbert Group, one of the largest KFC franchisees in the UK and Ireland.
What is the impact of historically high inflation on the UK consumer landscape?
- Why has global inflation returned with a vengeance?
- What is the current inflation situation in the UK?
- What impact is inflation having on UK retail sales?
- What tactics are businesses relying on to tackle the effects of high inflation?
- How are consumers changing their behaviors to cope with the higher cost of living?
- Which industry sectors are most vulnerable to reduced consumer demand?
- How is the government responding to high inflation?
- How long will high inflation last in the UK?
- How can your company survive and thrive in a high inflation environment?
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.
“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.
What is the impact of historically high inflation on the UK consumer landscape?
- Why has global inflation returned with a vengeance?
- What is the current inflation situation in the UK?
- What impact is inflation having on UK retail sales?
- What tactics are businesses relying on to tackle the effects of high inflation?
- How are consumers changing their behaviors to cope with the higher cost of living?
- Which industry sectors are most vulnerable to reduced consumer demand?
- How is the government responding to high inflation?
- How long will high inflation last in the UK?
- How can your company survive and thrive in a high inflation environment?