KFC franchise holder in NI secures £27m refinancing deal

The Herbert Group plans to expand its KFC network and grow its headcount to 5,000

KFC is set for a major expansion in Northern Ireland following a refinancing there by franchise holder, The Herbert Group.  Photograph: Brenda Fitzsimons

KFC is set for a major expansion in Northern Ireland following a refinancing there by franchise holder, The Herbert Group. Photograph: Brenda Fitzsimons

 

The Herbert Group, which operates the largest KFC franchise in central Europe, has agreed the terms of a £27 million (€30.7 million) refinancing deal with Danske Bank which it says will support new investment and expansion plans.

The Belfast-headquartered group, controlled by one of the North’s richest men, Michael Herbert, has recently acquired an additional 27 KFC stores and plans to open a further 20 next year as a result of this financing deal.

It also intends to set up a new home delivery service in the North, which is expected to create another 80 jobs and is planning to further develop its head office in Belfast and add 20 people to the team.

Workforce

The Herbert Group, which currently operates 145 KFC stores across the island and in Britain, is expected to grow its total workforce to 5,000 by 2018.

According to Jason Carlisle, group finance director of the Herbert Group, the latest acquisitions was a “strategic move”.

Mr Carlisle said the refinancing deal with Danske Bank would provide the group with the “platform and funding structure to pursue further acquisitions”.