Jardine Matheson Holdings Ltd (怡和洋行), a diversified Asia-based group whose businesses span property, transport, retail and luxury hotels, is considering strategic options for its restaurant unit, people with knowledge of the matter said.
The Singapore-traded conglomerate is weighing a sale of Jardine Restaurant Group (怡和餐飲集團), a wholly owned subsidiary that operates KFC and Pizza Hut franchises in Taiwan, Hong Kong, Macau and Vietnam, said the people, who asked not to be identified as the information is private.
The subsidiary also runs Pizza Hut restaurants in Myanmar, according to its Web site.
Photo: Ann Wang, Reuters
Jardine Matheson has held preliminary discussions with advisers, the people said, adding that deliberations are still at an early stage and the group could decide to keep the business.
A representative for Jardine Matheson did not immediately respond to requests for comment.
Yum! Brands Inc, the owner of the KFC and Pizza Hut trademarks, sold the KFC business in Taiwan in 2010 and offloaded the KFC franchises in Hong Kong and Macau to Jardine Restaurant Group in 2013, the unit’s Web site said.
Jardine Restaurant Group operates more than 900 restaurants in the region and has more than 27,000 employees, the Web site shows.
The unit contributed US$18 million profit to Jardine Group in the six months ended in June last year, compared with US$15 million in 2020, Jardine Matheson’s half-yearly earnings announcement showed.
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