Restaurant Brands Completes the Acquisition of KFC Business in Australia

29/04/2016 12:12:17 PM

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On 3 March 2016, Restaurant Brands New Zealand Limited (NZX: RBD) announced that it had entered into a conditional agreement to acquire 100% of the shares in QSR Pty Ltd, the largest KFC franchisee in New South Wales, Australia.

Restaurant Brands is pelased to advise that it has today successfully completed the acquisition of QSR and has issued 5,000,000 new ordinary shares to Eyeon QSR Pty Ltd in part payment of the acquisition price.

The shares issued to Eyeon are subject to a 12 month escrow period, during which they cannot be sold (subject to certain limited exceptions).

Restaurant Brands also advises that Mr Stephen Copulos has accepted the invitation to join the Board of Restaurant Brands and the Board has today appointed him as a Director of the company.  As required by the Listing Rules, Mr Copulos will stand for election by shareholders at Restaurant Brands' next annual meeting.