March 23 (Reuters) - Collins Foods Ltd (CKF)
- Acquisition of KFC restaurants in the Netherlands
- Unit has entered into a binding agreement to acquire 16 KFC restaurants located in Netherlands from subsidiaries of Yum! Brands
- Deal for consideration of EUR 62.3 million
- Acquisition and associated equity raising costs will be funded via a fully underwritten A$54.5 million placement
- Mark Van 't Loo has been appointed as CEO Europe
- Acquisition is expected to be mid single digit EPS accretive for Collins Foods shareholders in first full financial year of ownership
- For period ending 30 sept 2016, Netherlands acquisition generated revenue of EUR 46.6 million and EBITDA of EUR 7.3 million on a pro forma basis
- Development agreement was entered into with unit of Yum! for roll-out of more than 20 new KFC Restaurants by Collins Foods in Netherlands by 31 Dec 2021
News: CKF Collins Foods says unit acquires 16 KFC restaurants in Netherlands
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