Michael Herbert’s The Herbert Group has added 27 new KFC locations in the UK and Ireland to its 145 outlets already under its umbrella. Dansk Bank will be funding the expansion to the extent of £27m.
Jason Carlisle, group finance director at The Herbert Group, said: “Our latest acquisitions are aligned to the growth plans for the group and the store portfolios acquired are a great strategic move for our expanding operations in UK and Ireland.
“We are delighted to be working with Danske Bank and the experience they bring in handling significant corporate financial transactions. The expertise, efficiency and commitment the Danske Bank team demonstrated during the refinance was exceptional, and we look forward to working with the bank as our financial partner.
“In the past 12 months we have recruited for a number of senior positions across our finance, operations and development pillars in order to support the group’s growth plans.” The transaction with Danske Bank provides the group with the platform and funding structure to pursue further acquisitions.
Geoff Sharpe, head of corporate at Danske Bank said, “This transaction further demonstrates Danske Bank’s ability to support large corporate transactions, delivering customer-centric solutions and providing value-adding services. We are delighted the Herbert Group are working with Danske Bank as their financial partner and look forward to supporting the management team in the years ahead.”
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