Financing

Tasty Restaurant Group buys 64 more KFC restaurants

The multibrand franchisee, which also operates Pizza Hut, Burger King, Dunkin’ and Taco Bell, acquired the locations in the central and Southeast U.S.
KFC
The 64-unit acquisition will "significantly" expand Tasty Restaurant Group's KFC holdings. | Photo: Shutterstock

Multibrand franchisee Tasty Restaurant Group has acquired 64 KFC restaurants in the central and Southeast U.S., owner Triton Pacific Capital Partners said this week.

Terms of the deal were not disclosed. But the deal marks a “significant expansion” for Tasty’s KFC brands, which operate under the name Tasty Chick’n.

But the deal gives Tasty Restaurant Group 470 restaurants in several brands, including Pizza Hut, Burger King, Dunkin’, Baskin-Robbins and Taco Bell, in addition to KFC. They operate in multiple states.

Craig Faggen, CEO of Triton Pacific, a private equity group, called the deal “transformative” for the Tasty Chick’n business. “With a historical track record of strong cash flow and above brand average unit volumes, we are confident in the growth prospects alongside our current portfolio,” he said in a statement.

The company called the acquisition an “excellent investment opportunity” that could fuel new development opportunities.

That would be good news for KFC, which has run into some challenges over the past year and a half. The brand closed a net of 127 locations last year as its sales and unit volumes slowed.

Triton is based in Los Angeles and focuses on quick-service restaurants in addition to specialty finance companies and healthcare.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Financing

Saladworks-parent WOWorks is shopping for new brands to buy

The platform company is almost finished assimilating its existing six brands. Now it's time to add to the family, said CEO Kelly Roddy.

Financing

2 more reminders that the restaurant business is risky

The Bottom Line: Franchising is no less risky than opening your own restaurant. Just ask former NFL player David Tyree and the former president of McDonald's Mexico.

Marketing

There's plenty happening at the high end of the pricing barbell, too

Reality Check: Decadent meal choices are also proliferating, for a lot more than $5.

Trending

More from our partners