ALLIANCE FOODS ACQUIRES KFC
MBABANE – Alliance Foods (Pty) Limited has been granted approval from KFC (Pty) Limited, a private company incorporated in South Africa, to acquire the seven KFC restaurants (QSR) from Pimenta’s KFC (Pty) Ltd.
KFC (Pty) Limited is an ultimate subsidiary of Yum! Brands, Inc, a company listed on the Nasdaq stock market in the USA that through its subsidiaries and associates, operates in the Quick Service Restaurant (QSR) sector worldwide. The shareholders of Alliance Foods are Greystone Partners Limited and Inala Capital Limited. Greystone Partners Limited is a listed investment holding company on the Swaziland Stock Exchange and Inala Capital Limited is a newly-formed investment holding company that will also be listed on the Swaziland Stock Exchange, in February.
Partner and Chief Executive Officer of African Alliance Eswatini Nelsiwe Mabuza explained that ‘it is anticipated that Alliance Foods will take over the KFC QSRs on March 1, 2019’.
She said KFC was in the process of complying with the necessary labour legislation when a business is acquired and ‘it is our belief that timelines will be met accordingly’. Asked why Alliance Foods views the takeover of KFC outlets as a viable business opportunity, Mabuza explained that KFC is an incredible brand and one of the leading QSR brands in Eswatini.
Voted
Mabuza pointed out that KFC was voted the number one Top of Mind Restaurant brand and eighth Best Brand overall in Eswatini according to the Top Brands Eswatini Report 2016 collated by Yati Marketing. “In addition, the sector shows favourable dynamics. Research in South Africa has indicted that the quick service restaurant sector has continued to show steady growth. This is according to the research performed by Euromonitor and published in the Financial Mail. KFC achieved a 9.4 per cent growth in 2017 revenues and is the largest fast food brand in South Africa with a total turnover of E8.7 billion,’’ said Mabuza, who attributed the information to Financial Mail.
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