New owner for Northern Ireland’s 24 KFC restaurants
Northern Ireland’s 24 KFC restaurants have been sold as part of a £2bn deal by Asda.
The supermarket giant acquired sister company EG Group’s UK and Ireland operations for around £2.27bn, a deal including a major KFC franchise of 146 KFC restaurants and one Pizza Hut.
Belfast-based Michael Herbert had sold the franchise to EG Group in 2020, having opened his first KFC in Glengormley in the 1980s.
He and his wife Lesley emerged as the new owners of the Barry’s Amusements site in Portrush in summer 2021.
EG Group owns other fast food brands including Leon, a chain selling healthy food.
A spokesman for Asda said it was too soon to comment on any operational implications for KFCs. He said there would be an update closer to the end of 2023, when the deal is due to complete.
Asda Group said the deal would bring its reputation as a “consumer champion” to more customers while boosting growth in convenience, omni-channel retail and foodservice.
Stuart Rose, chair of Asda, said: “This transaction is all about driving growth by bringing Asda’s heritage in value to even more communities and accelerating the growth of its convenience retail business.”
Since 2021, Asda has been jointly owned and controlled by brothers Mohsin and Zuber Issa and TDR Capital. They also founded EG Group in 2001 and built it into a global business.
Zuber Issa said: “Following this sale, EG Group will benefit from a significantly strengthened balance sheet, supporting the continued roll out of its successful convenience retail, fuel and foodservice strategy and drive innovation to transform the consumer experience.”
