BELFAST-based businessman Michael Herbert has acquisition of 27 new KFC stores to his growing portfolio and the creation of 100 jobs in the north.
The expansion follows the company agreeing a major refinancing deal, with Danske Bank providing £27m of the new funding.
Mr Herbert controls The Herbert Group, the largest KFC franchise in central Europe.
The latest acquisition brings the group’s total number of stores across the UK and Ireland to 145, with a further 20 stores contracted for quarter one in 2018. This will see the group employ 5,000 store staff.
Of the 100 new jobs being created, 80 of the roles are to support the roll-out of the home delivery service in Northern Ireland and further 20 created at the group’s head office in Belfast.
Group finance director Jason Carlisle said the latest acquisitions were part of expansion plans in the UK and Ireland.
“In the past 12 months we have recruited for a number of senior positions across our finance, operations and development pillars in order to support the group’s growth plans. The transaction with Danske Bank provides the group with the platform and funding structure to pursue further acquisitions."
Corporate banking manager at Danske Bank Brian Shane added: "“Danske Bank has a long term relationship with the Herbert Group via the provision of our market leading cash management & liquidity solutions, and foreign exchange risk management. The firm is well positioned for future growth and with a strong management team in place, the business continues to go from strength to strength.”
