The American fast food chain, Pizza Hut, has decided to double its presence in Pakistan. One of the world’s famous food company and its local partners recently announced that they are planning to open 75 new outlets in the country with an approximate investment of $3.4 million.
The CEO of MCR, Aqeel Hassan, and Managing Director (Middle-East, Turkey, Africa) META Region of YUM! Brands, Randall Blackford, signed a franchise agreement on the behalf of the two firms giving MCR the rights to sub-franchise Pizza Hut restaurants and expand its presence even further.
Grace Shelton, the US Consul General Karachi also attended the event.
“Today we mark another successful American-Pakistani business partnership as we inaugurate this new partnership between Pizza Hut and YUM! Brands, we are happy to celebrate Pizza Hut’s growth as the largest restaurant chain in Pakistan”, Shelton said.
Aqeel Hassan said, “We are proud to be embarking on this landmark expansion which takes forward our partnership with YUM! Brands. With 74 outlets operational countrywide, Pizza Hut has become the first international food chain in the country that plans to go public and our next target is to take Pizza Hut restaurants to many more districts of the country.” –Press Release (PR)
Meanwhile, Aqeel Hassan also said that the agreement offers a massive opportunity for Pakistan, adding that Pakistan would benefit from an average of $3.4 million in investment.“The amount of investment varies between the size of the proposed outlets, but the figure is anywhere from $300,000 to $600,000 per unit,” he said.
In any case, we’ll keep a track on the story to keep our readers updated. Subscribe to BizUpdates.net to keep yourself updated with the current trends and insights of the country’s business ecosystem.