Collins Foods to Book AU$20-22 Million One-Off Gain After Completing Taco Bell Exit
MT Newswires Live
Aug 17
Collins Foods (ASX:CKF) completed the transfer of 20 Taco Bell restaurants to Taco Ventures, a partnership between an affiliated company of Taco Bell, part of YUM! Brands, and Restaurant Brands Australia Holdings, successfully exiting its Taco Bell operations in Australia, according to a Monday Australian bourse filing.
The company said the decision underscores its strategy of focusing on the KFC brand in Australia and Europe, with the company anticipating a one-off gain on the transfer of lease liabilities to other parties in fiscal 2027, including the seven Taco Bell restaurants that were closed, estimated at AU$20 million to AU$22 million.
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