Collins Foods Limited
(ASX:CKF) has entered an agreement to buy 13 KFC restaurants around the NSW and Victoria border.
The company will pay $25.46 million for the purchase, plus acquisition costs.
Collins Foods’ MD and CEO, Graham Maxwell, says that this acquisition will be “
immediately earnings per share accretive and enhance shareholder value”. Mr Maxwell also says that this purchase will result in it being the owner of 191 KFC restaurants, making it the largest KFC franchisee in Australia.
Collins Foods reported a net profit of $14.33 million at 30 October 2015.
