Franchisee acquires 120 KFC units
Nov. 6, 2012
by Meat&Poultry Staff
DALLAS – Mitra QSR KNE, LLC and its capital partner Chalak Growth Capital Fund, LLC acquired 120 KFC units, making Mitra one of the largest KFC franchisees in the system.
The deal includes 78 KFC units, 39 KFC/Taco Bell co-branded units and three KFC/Long John Silver’s co-branded units. The stores are spread across Virginia, Delaware, Maryland, Pennsylvania, West Virginia and New Jersey. Mitra and Chalak also are partners in 33 additional KFC/Taco Bell units in Texas, Oklahoma, Missouri, Kansas and Illinois.
"Being one of the biggest divestures that KFC Corporation has ever undertaken, this was a very complex transaction between Yum Brands, Inc.'s M&A division, KFC Corporation, Taco Bell Corporation, Wells Fargo and Mitra," said Manish Patel, co-CEO of Mitra. "It was however, extremely amazing how all of the teams came together to make this transaction a reality, and we are excited about the prospects of this portfolio and incorporating all 3,000-plus team members into our culture and organization."
The transition has been underway since the transaction was finalized in mid-August. There are two corporate offices, one based in Dallas and a regional office for support services based in the Northeast.