NZ's Restaurant Brands denies to acquire Competitive Foods
New Zealand fast food operator Restaurant Brands on Monday said it had no intention of acquiring Aus…New Zealand fast food operator Restaurant Brands on Monday said it had no intention of acquiring Australia's Competitive Foods Limited, denying speculation that it was planning to purchase the franchise company.
"There has been recent media speculation as to the identity of the acquirer of Competitive Foods Limited ... Restaurant Brands wishes to advise that it is not intending to acquire this business," the company said in a statement.
Restaurant Brands operates KFC, Starbucks, Pizza Hut and Carl's Junior franchises in New Zealand. Competitive Foods operates 40 KFC stores in Western Australia.
Shares in Restaurant Brands fell 1 percent in early trade to NZ$2.95.
