Amrest signs annex to Pizza Hut deal
11:45
WSE-listed restaurant chain operator AmRest has signed an annex to heads of terms with Pizza Hut concerning holding a master franchise license for the next ten years in the CEE region as of October 1, the company said.
The annex prolongs the validity of the deal until July 15. Should the two parties fail to finalize it by that date, the heads of terms becomes invalid.
"In line with heads of terms, AmRest as a master franchise holder, will have a right to subfranchise the license to third parties, while operating a fixed number of restaurants by itself," a communique read.
The deal is valid for Poland, the Czech Republic, Hungary, Bulgaria, Serbia, Croatia, Slovakia and Slovenia.
