AmRest acquires major French restaurant pizza chain

Central Europe’s largest independent restaurant chain operator has signed an agreement to purchase 100 percent of the shares in Pizza Topco France, according to a press release by the Wrocław-based company on Thursday. It stated that the cost was PLN 61 million. The deal gives AmRest control over a company that has been the exclusive franchisee of Pizza Hut Delivery in France. “AmRest intends to develop in France the concept of Pizza Hut Delivery, as well as innovative Pizza Hut Express. Management believes that the extension of AmRest [to France] will positively influence added value for the shareholders of the company,” part of the statement read. AmRest operates casual dining establishments, such as Pizza Hut, KFC and Burger King, primarily in Poland, Bulgaria, Russia, the Czech Republic, and Germany. However, it also owns brands Applebee’s in the United States and LaTagliatella in Spain. In Q2 of 2016, the last quarter for which revenue figures are currently available, it had gross earnings of PLN 127.16 million. The acquisition of Pizza Topco, which had PLN 63.4 million in consolidated sales in 2016, will add 123 – mostly franchisee – restaurants to its collection. The statement also said that the acquisition of Pizza Topco is part of plans to accelerate development of the Pizza Hut brand for the WSE-listed company.