Taco Bell stores in WA have been thrown a lifeline after Collins Food entered an agreement for 20 of the 27 franchise stores around the nation to continue operating under a new company.
Challenging market conditions, and significant impairments with its KFC Netherlands operations, led to ASX-listed Collins Foods' statutory profit down 88.5 per cent in FY25.
All remaining Sizzler stores in Australia will close, after the restaurant's owner said it was the hardest hit of its brands during the COVID-19 pandemic.
Collins Foods has lifted its payout to shareholders after strong sales at its Australian KFC network helped the company boost full-year profit 20.3 per cent to $39.1 million.
Collins Foods, Australia's biggest KFC franchisee, has lifted full-year profit by 16 per cent, buoyed by the addition of new stores to its network, and despite the Western Australian market being an under-performer.
ASX-listed Collins Foods will spend $110.2 million to acquire 28 KFC restaurants around Australia from US-based Yum! Brands, six of which are in Western Australia.
Western Australia's top 10 largest private sector employers employ more than 103,200 people between them, about 2,000 fewer than last year, according to BNiQ research.
Queensland-based food group Collins Foods will pay $55.6 million to acquire Competitive Foods' KFC business, which is the franchisee of 44 KFC restaurants in Western Australia and the Northern Terr
