Food chains Pizza Hut and Burger King have been acquired by Islamabad-based Maaks International and MCR and MCR Pakistan, the firms that run, respectively, in the country. In a transaction industry officials put in the range of $10 million to $15 million.
Pizza Hut and Burger King have been out of commission, however, the new owner has vowed to make a comeback of the two fast food eateries this month. Currently, there are 84 Pizza Hut and nine Burger King branches in the country. Maaks International will add 25 new branches of the two restaurants every year.
Its acquisition will involve running the operations of 84 Pizza Hut and 9 Burger King outlets in the country. The new management vows to take this number higher over the next five years. Azhar Jafri, Executive Director of the newly-acquired MCR and MCR Pakistan said:
“We want to revamp operations completely. We plan to increase Pizza Hut branches to 200 and Burger King to around 50 by 2027.”
Jafri, who appeared to be more bullish on Pizza Hut than he was on Burger King, said there was no reason why the pizza business could not retain its position as a market leader. The company manages over 53,000 franchises in 155 countries. Restaurant Brands International (RBI) is the parent company of Burger King and it also owns Tim Hortons, Popeyes, and Firehouse Subs. RBI runs over 28,000 outlets in over 100 countries.
Jafri said the company was unable to maintain Pizza Hut to its international benchmark, citing this as the main...
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