Propel Morning Briefing Mast Head Propel Hospitaliity website Paul's Twitter Link Subscribe Unsubscribe Web Version Forward Email Swifty Banner Morning Briefing Strap Line
Tue 14th Mar 2017 - Yum! Brands agrees £300m sale of majority of company-owned KFC stores in Britain, reveals UK management reshuffle
Yum! Brands agrees £300m sale of majority of company-owned KFC stores in Britain, reveals UK management reshuffle: Yum! Brands has agreed the estimated £300m sale of most of its company-owned KFC stores in Britain as it shifts the emphasis to franchising. The company, which has almost 900 KFC outlets in the UK, is to sell about 180 of its 230 company-owned and run KFC outlets in 15 separate packages to new and existing franchise holders, reports The Times. The announcement came as KFC revealed a management reshuffle in its UK operations. Martin Shuker, general manager of its UK and Ireland business, is handing the reins to his chief financial officer, Paula MacKenzie, a Cambridge economics graduate who has worked for KFC since 2011. She has previously worked for Innocent Drinks, Glaxosmithkline and Diageo. Shuker, 54, is stepping back from day-to-day management of UK operations to focus on his role as managing director for Western Europe, comprising the UK, Germany, the Netherlands, Spain, Portugal and Italy. Shuker, who joined Yum! Brands in 1995 from United Biscuits, has run its UK and Ireland operations for 13 years, building it into a £1bn business and achieving 48 out of 52 quarters of growth. Late last year Yum! Brands announced a refranchising programme and appointed BDO to advise it on the sale of all but about 50 of its company-owned stores. Although private equity firms were approached about buying the entire package of 180 stores, selling packages of stores for franchise was seen as the best option. The company said that the sale process, which may take until the end of next year to complete, would involve the sale of “bundles of restaurants” to three new franchise partners and 12 existing KFC franchise holders. In 2012 Yum! Brands sold its Pizza Hut UK restaurant business to Rutland Partners after going through a similar refranchising process and late last year it revealed plans to increase its franchise ownership for all its restaurant brands from 77% to 98%. KFC was founded by Colonel Harland D Sanders in Kentucky in the 1950s and became known for its “Finger Lickin’ Good” slogan, later reduced to “So Good”. It has been on British high streets since 1965, when it opened its first outlet in Preston. The colonel devised a combination of 11 herbs and spices with flour to create the KFC taste, and the secret recipe is only known to a handful of people. It is locked in a vault in Louisville. Despite the perception of fast food as a low-paid job with poor working conditions and few prospects, under Shuker KFC has been ranked as one of the top 25 “great places to work in the UK” for the past eight years.


Return to Archive Click Here to Return to the Archive Listing
 
Punch Taverns Link
Return to Archive Click Here to Return to the Archive Listing
Propel Premium
 
McCain Banner
 
Zapaygo Banner
 
Matthew Clark Banner
 
Deliverect Banner
 
A2Z Masks Banner
 
Pub Plants Banner
 
Yoello Banner
 
Ei Group Banner
 
OrderPay Banner
 
TipJar Banner
 
Trail Banner
 
Odamo Banner
 
Arla Foods Banner
 
Nestle Waters Banner
 
Yumpingo Banner
 
Camile Banner
 
Pepper Banner
 
The Leisure and Hospitality Collective Banner
 
LunchMate Banner
 
Biff's Banner
 
Zonal Banner
 
Swifty Banner
 
Yudu Banner
 
Orderbee Banner
 
Startle Banner
 
Pago Banner
 
Access Banner
 
Ten Kites Banner
 
Prestige Purchasing Banner
 
IOL Banner
 
COREcruitment Banner
 
Punch Taverns Link Punch Taverns Link
Wi5 Banner
ALMR Web Link Web Version Unsubscribe Subscribe Propel Info website