Court Approves Deal to Put 65 Quebec KFCs Under New Management
Deal Pending to Allow Olympus Food (Canada) Inc. to Buy 65 Quebec KFC Franchises
VAUGHAN, ON, Sept. 14, 2012 /CNW/ - Yum! Restaurants International, Canada and its KFC brand are one step closer to finding a new franchise partner in Quebec. Yum! Canada announced today that the court has approved an Olympus Food (Canada) Inc. bid to purchase 65 KFC restaurants in Quebec.
The deal is expected to close next week and would mean that Olympus, which is affiliated with a company that already owns more than 50 KFC restaurants in Manitoba and Alberta and an additional 220 KFCs worldwide, will take over the management of 65 restaurants across the province.
The sale does not include four restaurants in Roberbal, La Tuque, Valleyfield and Laval, which will be closed.
Sabir Sami, Yum! Restaurants International, Canada's President and General Manager says the sale signals a new phase of growth and investment for KFC in Quebec. "While difficult for the affected communities, the transition to a new franchisee will secure a positive long-term future for KFC in Quebec. We're excited to be joining with our partners at Olympus Foods (Canada) Inc. to revitalize and re-energize KFC in Quebec through restaurant upgrades, a renewed focus on customer service, quality and new menu innovations," says Sami.
SOURCE: Yum! CanadaFor further information: