AmRest finalizes German Pizza Hut takeover

WSE-listed restaurant operator AmRest has finalized the purchase and master franchising agreement for Pizza Hut in Germany. Additionally, AmRest bought two Pizza Hut restaurants in Dusseldorf for €1. Under the deal terms, AmRest will become the sole master franchisee of 67 Pizza Hut restaurants currently run by sub-franchisees in Germany. It is also acquired the rights to franchise Pizza Hut restaurants to third parties. The contract will be valid for 10 years with the possibility of renewal. “In 2016 the network generated the system sales of approx. €55 million and consolidated revenues of €4 million,” AmRest said in a market filing. AmRest plans to open over 150 Pizza Hut restaurants in Germany over the next 5 years.