Pizza Hut Canada enters into development agreement with Franchise Management Inc., unlocks growth potential in Eastern Canada

World's largest pizza franchise expands presence in Quebec and Eastern Canada with over 200 trade zones available

TORONTO, May 18, 2017 /CNW/ - Pizza Hut Canada, a division of YUM! Brands, Inc. (NYSE: YUM) and the world's largest pizza franchise, is pleased to announce today that it entered into a development arrangement with Franchise Management Inc. (FMI). Under this agreement, FMI has agreed to purchase 38 existing Pizza Hut restaurants in Quebec and the Greater Ottawa/Kingston region, as well as to add new DelCo (Delivery/Carry Out) model stores in Eastern Canada over the coming five years.

"We are thrilled to deepen our relationship with FMI and to finally return to growth in Quebec," said Marco Moretto, Director of Development, Pizza Hut Canada. "We have been proudly serving loyal customers for nearly 30 years in Quebec and this announcement is the latest development in Pizza Hut's history and our strategic transformation plan to drive growth by increasing our franchise ownership. In addition to our technology that our customers love and use to order online, we are excited about implementing new delivery and take out stores through our arrangement with FMI in order to bring the Pizza Hut brand to even more Canadians."

The agreement represents a first major step in Pizza Hut Canada's plans to relaunch expansion into Quebec. Pizza Hut Canada has a proven DelCo model with a smaller footprint at lower build costs. Pizza Hut's online order capability, unique food offering (Pan, Stuffed Crust, WingStreet) combined with the strong double-digit DelCo sales momentum in Quebec has led to the great opportunity between Pizza Hut Canada and FMI.

FMI is the largest Pizza Hut franchise operator in Canada and currently owns and operates more than 175 Pizza Hut locations in Canada and the United States. All of its operations are administered from their Support Center in Woodstock, New Brunswick.

"FMI has been a longstanding franchisee with Yum! Pizza Hut's DelCos are a great investment opportunity and we are really excited to be a continued strong partner for Pizza Hut Canada's growth journey!" said Greg Walton, Operating Partner of FMI.

Pizza Hut has grown to become the largest pizza company in the world with over 16,000 restaurants in over 100 different countries, including 400 units across eight provinces in Canada. In particular, Pizza Hut Canada has over 200 trade zones available to investors and is looking to expand through organic franchise growth, development agreements with the right partners, Master Franchise agreements and mergers and acquisitions of existing chains. Pizza Hut Canada offers lucrative growth incentives to franchisees and investors, including new and existing small (single unit) to multiunit operators.

For more information on Pizza Hut Canada or to inquire about franchise opportunities, visit https://www.pizzahut.ca/franchise/available-location

About Yum! Brands

Yum! Brands, Inc., based in Louisville, Kentucky, has over 43,500 restaurants in more than 135 countries and territories and is one of the Aon Hewitt Top Companies for Leaders in North America. The company's restaurant brands - KFC, Pizza Hut and Taco Bell - are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in international retail development.

SOURCE Pizza Hut Canada



For further information: Interested investors are invited to contact: Marco Moretto, Marco.Moretto@yum.com; Members of the media are invited to contact: Andrea Cheung, Edelman at 416-849-2364

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Pizza Hut Canada

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