Restaurant Brands New Zealand agrees to a master franchise deal with Yum! Brands
Restaurant Brands New Zealand has seen an 10% increase in its first quarter in comparison to the previous year, generating sales of up to $97.4mn.
The corporate franchisee is also now set to further its growth by signing a new Pizza Hut master franchise agreement with Yum! Brands, which will enable it to continue its operations for the brand in New Zealand.
Network sales in the first quarter sales within Pizza Hut’s New Zealand arm equated to $23.4mn, an increase of up to 1.2%. However, there is now a slight decrease in the number of Pizza Hut stores run by independent franchisees, with up to 98 stores in total.
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The 10-year agreement will enable Restaurant Brands to continue running the everyday administration and marketing work of the Pizza Hut brand in the country, and also bolster independent franchisee-owned stores, according to newsroom.pro.
Restaurant Brands has become New Zealand’s largest fast-food operator, with KFC, Pizza Hut, Starbucks Coffee and Carl's Jr brands situated under its umbrella.
In Hawaii, Pizza Hut has also seen an increase of 10.9% in Q1, with no decrease in store numbers.