Taco Bell's Australia Operator Exits After Years of Struggles [Yahoo! Finance]
Yum! Brands, Inc. (YUM)
Last yum! brands, inc. earnings: 4/29 07:00 am
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Source: Yahoo! Finance
announced it will transfer ownership of 20 of its 27 restaurants to Restaurant Brands Australia, while shutting down the remaining seven locations. The move gives the struggling chain a path forward after more than a year of uncertainty over whether Taco Bell would leave the Australian market entirely. According to Yahoo! Finance , Collins Foods, the Australian operator behind both Taco Bell and KFC, said the agreement is part of its previously announced plan to step away from Taco Bell and focus more heavily on KFC operations in Australia and Europe. COMPLEX SHOP: Shop the brands you love, anytime and anywhere. Uncover what's next. Buy. Collect. Obsess. Restaurant Brands Australia, a longtime partner of Taco Bell parent company Yum! Brands, will assume control of the 20 remaining stores pending regulatory approval. The transaction is expected to be finalized by August, and employees at those locations will be offered new jobs under the new ownership structure. The decision ma
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