Priszm Expansion Targets KFC/Taco Bell Restaurants

The Globe:

Priszm Canadian Income Fund will spend up to $150-million building 60 to 70 new multibranded KFC/Taco Bell restaurants in Canada over the next five years. “We’re going to make sure that we have not only the operational capacity to handle it, but that we have the financial capacity through debt or equity [issues] to pursue that expansion,” Priszm chairman and chief executive officer John Bitove Jr. said. Multibrands, which combine KFCs with Taco Bells or Pizza Huts, have higher sales and profits than the company’s stand-alone fried chicken restaurants, Mr. Bitove said. Including 85 multibrand locations, Priszm operates 478 KFC, Taco Bell, Pizza Hut and Long John Silver restaurants in Canada. It will also convert 72 more stores to multibrands. QSR.UN (TSX) rose 19 cents to $10.59.