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.
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.