KFC to be franchised in Brazil
March 29, 2007
by FoodBusinessNews.net Staff
RIO DE JANEIRO, BRAZIL — Yum! Restaurants International and Brazil Fast Food Corp. have reached an agreement to franchise KFC in Brazil.
22N Participacoes Ltda., a holding company of Brazil Fast Food, will take over operational control of KFC’s four company-owned restaurants in Rio de Janeiro as a Yum! franchisee. Also through its holding company, Brazil Fast Food will develop and expand the KFC chain in Brazil by opening and managing both company-owned and franchised restaurants.
"For 2007, we estimate that the revenue generated as a result of this mutually beneficial agreement will boost our company’s restaurant sales by approximately 10%," said Ricardo Figueiredo Bomeny, chief executive officer of Brazil Fast Food Corp. "With our high level of commitment to and enthusiasm for this new venture, we believe that, over the long term, we will be able to generate progressively greater revenue as a result of this agreement."