Yum! looking to refranchise its Pizza Hut network in the UK
According to a report published on the website, marketingmagazine.co.uk, the US restaurant owner Yum! announced last month that it is intending to refranchise its UK network of 700 Pizza Hut restaurants by finding a single buyer to create a master franchisee for the chain. The report reveals that approx. 80% of Yum! businesses are already franchisee-run.
In an interview, a spokesperson for Yum! Restaurants International said, “Consistent with its strategy of focusing on high growth, high return markets, Yum! Brands has decided to refranchise its entire Pizza Hut UK business and is seeking a single buyer to purchase its company-owned restaurants and to serve as a master franchisee for the market. The UK market is well developed and will benefit from a strong, growth-oriented partner. Pizza Hut ranks as the UK's favourite pizza and recently launched a re-branding campaign that has resulted in increased transactions and sales.” (kbp)