Tricon is believed to looking for investors with upward of US$200m to spare as part of its Singapore refranchising programme. The group has put 106 outlets operating under the KFC, Pizza Hut and Taco Bell brands on the market.
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The outlets together employ approximately 3000 people and account for 25% of the country’s fastfood sector, with sales of over US$200m. The majority of the outlets are KFC restaurants (70), with 30 Pizza Huts and six Taco Bells making up the remainder.
Around half a dozen parties, both local and from overseas, are believed to have indicated an interest in taking on the franchise, claimed a report in the Singapore Business Times. These are expected to include the sons of former Chief Justice Wee Chong Jin, two Malaysian parties and Singapore-listed Heshe Holdings, which is growing its food-and-beverage business under newly incorporated subsidiary Tedston.
