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Morning Briefing for pub, restaurant and food wervice operators

Fri 23rd Dec 2022 - Exclusive: Tahir Group becomes largest KFC operator in London after deal for Barack Group
Exclusive – Tahir Group becomes largest KFC operator in London after deal for Barack Group: Tahir Group, the Starbucks and German Doner Kebab franchisee, has taken its estate of KFC sites past the 40-mark after acquiring the Barack Group of Companies, Propel has learned. The Barack Group is a collection of entities that together own and operate eight KFC restaurants across central London including in Kings Cross, Camden and Vauxhall. It was founded by husband-and-wife Javed and Nusret Hussain, and is now managed by Khawar Hussain. The transaction marks an end to Barack’s 35 years’ operating as a KFC franchisee, having opened its first restaurant in 1987. The sale sees the Barack shareholders make a full exit from the system as they turn their attention to new opportunities. Hussain said “Today marks a new chapter for the Barack KFC restaurants, who now join the Tahir Group – a leading KFC franchisee renowned for its operational excellence and ability to develop not only the business, but its people too. We would like to thank all of our team for its years of hard work, passion and unwavering commitment that has helped the business grow into what it is today. We are certain the business will continue to grow from strength to strength under Tahir ownership.” The transactions see the Tahir Group become the largest KFC operator in London, now operating 41 restaurants across London and the Midlands. The group is headed by owner Fazan Tahir, who has grown the KFC estate organically at brand-leading rates, and by acquisitions from the franchisor, over recent years. Tahir sits on the KFC UK and Ireland franchise board as well as the brand and advertising board. Tahir said “Acquiring the Barack Group makes a lot of logistical sense for us, strengthening our London heartland. The Tahir team and I are delighted to welcome the Barack team onboard and look forward to working with it; our ethos is to place people at the heart of everything we do. Our growth comes through achieving success together – by serving the communities we operate in through innovation, investing in people and delivering outstanding service to our customers.” The shareholders of the Barack Group of Companies were advised by Peter Hemington, Sam Otterburn and Yashna Gopal of BDO (corporate finance), and Owen White (legal corporate and property). The Tahir Group was advised by David Crump and John Farnsworth, of PKF Corporate Finance, and Shakespeare Martineau (legal corporate and property). Crump said: “We confidently expect the ‘Tahir magic’ to embrace the acquired staff and restaurants, and the enlarged group will continue to thrive and grow – while retaining its sector-leading quality.” Otterburn added: “We’re delighted to see the Barack shareholders achieve a full exit and depart the KFC system after 35 years. We’re sure 2023 will be an exciting new chapter for the shareholders.”

Pret set to launch in Israel: Pret A Manger has struck an agreement with retailer Fox Group and the Yarzin Sella Group to launch in Israel. The move is part of Pret’s plan to double the size of its business within the next five years. It plans to expand into five new markets by the end of 2023. A raft of new franchise agreements in 2022 will see Pret launch in India, Spain and Portugal, while expanding its presence in the UAE and USA, alongside the UK. As part of the agreement of principles, it was agreed a joint Israeli company would be established, to which the franchise would be granted, with Fox holding 75% and Yarzin Sella Restaurants holding 25% of its share capital. The development and establishment rights of the branches will be granted to the new company for a period of ten years, in addition to the option of another ten years, subject to meeting the goals, including the opening of at least 40 branches in the first decade, with the operating period for each branch being at least ten years. Pano Christou, chief executive of Pret, said: “We are still in the early stages but are delighted to have reached an initial agreement to bring Pret’s freshly made food and organic coffee to customers in Israel. Over the past year we have stepped up our international expansion and growth plans, working with our franchise partners to introduce Pret to new markets. We’re looking forward to seeing how consumers in Israel respond to the great taste and innovation from Pret and hope we are a welcome addition to the food-to-go market for all.”

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