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Brazil Fast Food acquires Pizza Hut's largest Brazilian franchisee
August 11, 2008
RIO DE JANEIRO, Brazil -- Brazil Fast Food Corp., which operates the Bob's and KFC brands in Brazil, has acquired 60 percent of Internacional Restaurantes do Brasil (IRB), Pizza Hut's largest franchise in that country.
IRB owns 14 Pizza Hut restaurants in São Paulo and 4 café stores with the brand "In Boca al Lupo," which also was acquired by Brazil Fast Food. The acquisition is expected to increase Brazil Fast Food consolidated revenue by 20 percent in 2008 and 40 to 50 percent in 2009 compared with 2007.
The remaining 40 percent of IRB will be held by IRB chief executive Jorge Aguirre.
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