News

KFC Holdings bids for Tricon's Singapore stores

March 19, 2002

Malaysian fast-food operator KFC Holdings, based in Kuala Lumpur, is bidding to acquire the KFC, Pizza Hut and Taco Bell fast food chains in Singapore.

The stores are located in Singapore and owned by Tricon Global Restaurants, based in Louisville, Ky. All 106 stores -- comprised of 70 KFCs, 30 Pizza Huts and six Taco Bells -- were put up for sale last fall.

According to a statement released by Aseambankers Malaysia Bhd, KFCH proposed to acquire Kentucky Fried Chicken Management Pte. Ltd. (KFCMPL) and Pizza Hut Singapore Pte. Ltd. (PHS). PHS also holds a Taco Bell franchise license.

According to Singapore's New Straits Times, KFCH executive director, Datuk George Ting, would not comment or provide details of the bid. Reports published last year set the estimated price tag at S. $200 million (U.S. $108 million).

Multiple Singapore news outlets have reported that as many as six parties from that country and elsewhere are interested in the deal.

KFCH holds the KFC franchise for Malaysia and Brunei, and the Pizza Hut franchise for Malaysia. As of last May it owned 294 combined outlets.

The company became a Pizza Hut franchisee in 1995, and has grown that brand's store numbers to 87.