It's finger lickin' good
YUM! Brands, KFC's parent company has bought 68 franchise stores from Kumnandi Food Company as part of its efforts to increase its investment in South Africa.
EXPANDING: Branding generic Yum! Foods is fast establishing its mark in South Africa, with yet another acquisition of Kumnandi Foods. PHOTO: JEREMY GLYN
The acquisition forms part of KFC's expansion on this continent.
KFC has more than 660 outlets here and 190 in the rest of Africa. This network will exceed 1000 this year, with more than 700 of them in South Africa.
"The acquisition of 68 KFC sites situated in Johannesburg, Bloemfontein and Kimberley by Yum! marks an important brand milestone for our organisation. This clearly demonstrates KFC's commitment to making meaningful economic contributions to the markets we operate in as we actively grow our brands," said KFC's MD, Keith Warren.
Responding to Sowetan on how this would empower local businesses, KFC said: "Broad-based black economic empowerment focuses on more than ownership. This transaction is part of a meaningful effort by KFC to drive expansion of its network.
"The direct result is individual personal opportunity for existing employees at all levels, skills development and job creation. The acquisition of Kumnandi from Investec is a major step in this direction," KFC said yesterday.
"The acquisition of the 68 KFC restaurants back into the Yum! organisation will see Yum! have equity in its own restaurants for the first time in 10 years. This milestone comes at an important time in the economies of the broader region and is a clear commitment by KFC to play an active role across the world's great consumer frontier," Warren said.
He said KFC intended to accelerate development of the brand and business rapidly by building many new stores with the consequent creation of jobs, infrastructure and supply chains.
hotitoti
junk food, mafura a teng a a tswana mo nameng u can fry eggs with it, too much colesterolReport Abuse
DJWinner
How fat are they trying to make us? Eish, these people. Our women can't even walk because of KFC.Report Abuse
DJWinner
Bafana2011KFC is not the same anymore, i think they lost the recipe.
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You might be one of those heavy KFC eaters, no offence. They say that if you eat a lot, you lose taste.
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