Management Board of AmRest Holdings SE ('AmRest') announces the signing of a Share Purchase Agreement ('SPA'), dated January 24th, 2017, between AmRest and Top Brands NV ('Seller'). Pursuant to SPA AmRest will acquire 100% shares of Pizza Topco France SAS ('Pizza Topco') at estimated price of ca. EUR 14m (approx. PLN 61m). Final purchase price will be determined as at the day of closing of the transaction.
Pizza Topco is the exclusive master franchisee of Pizza Hut Delivery restaurants across France. Currently Pizza Topco operates 123 restaurants, the majority of which are managed by franchisees. The equity restaurants (7 locations) are managed by Pizza Delco France SAS ('Pizza Delco'), a company owned in 100% by Pizza Topco. In 2016 fiscal year the network generated the system sales of approx. EUR 67.6m (PLN 295.6m). The consolidated revenues of Pizza Topco amounted to ca. EUR 14.5m (approx.. PLN 63.4m).
Both parties intend to close the transaction within couple of months ('Completion'). Completion is contingent upon a number of conditions, such as: standard material adverse change clause ('MAC'), approval from the Supervisory Board of AmRest, signing of a master franchise agreement with YUM! Restaurant Holdings (Pizza Hut brand owner), etc.
The acquisition of Pizza Topco fits perfectly the plans of accelerated development of the Pizza Hut brand initiated by signing in August 2016 the master franchise agreement for Central and Eastern Europe countries. AmRest intends to develop in France both the Pizza Hut Delivery and Express concepts.
The Management Board is confident that the addition of Pizza Hut Delivery business in France is a great strategic move that will be accretive to AmRest shareholders.
Legal act:
Art. 17 Sec. 1 of Regulation (EU) No 596/2014 of The European Parliament and of The Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC
AmRest Holdings SE published this content on 25 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 January 2017 08:06:04 UTC.
Original documenthttps://www.amrest.eu/en/investors/regulatory-announcement/rb-182017-share-purchase-agreement-pizza-topco-france
Public permalinkhttp://www.publicnow.com/view/ECD36C6E4A314F4F4838A2C7476E100972C60435
Amrest Holdings SE is a Spain-based company active in the restaurants and bars sector. The Companyâs core activity is operating Kentucky Fried Chicken (KFC), Pizza Hut, Burger King and Starbucks restaurants through its subsidiaries in Poland, the Czech Republic, Hungary, the Russian Federation, Serbia, Croatia, Bulgaria, Spain and France, on the basis of franchises granted, and Applebeeâs in the United States. Additionally, in Spain and France the Company operates its own brands La Tagiatella, Trastevere and il Pastificcio. It also operates PizzaPortal.pl, an online portal for ordering food from various restaurants. The Company operates through subsidiaries, such as AmRest Sp z o o, AmRest sro, AmRest doo, AmRest Adria doo, Blue Horizon Hospitality Group PTE, AmRest TAG SL, SC Marinopoulos Coffee Company III Srl and Marinopoulos Coffee Company Bulgaria EOOD, among others.
AMREST HOLDINGS SE 
