KFC Unveils £1.5bn Plan to Create Over 7,000 UK Jobs and Open 500 Restaurants
Fast-food giant KFC has announced a major £1.5bn investment plan to create more than 7,000 jobs in the UK and Ireland over the next five years. The company aims to open a further 500 restaurants by 2035, with a focus on building flagship sites and drive-thrus in key locations such as Ireland and North West England.
According to City AM, the investment will see £466m allocated towards opening new locations, while part of that figure will also be spent on upgrading more than 200 existing KFC restaurants – 20 per cent of the brand’s estate. The company plans to invest £583m to create more than 7,000 jobs over the next five years.
The investment will also contribute a further £169m of direct gross value added (GVA) to the UK economy over the next five years, achieved through building new restaurants, hiring more people, spending more with UK suppliers, and increasing the earning and spending potential of its employees and partners. As City AM reports, companies such as Pilgrim’s Europe, McCormick, Nature’s Way, and Fourth are set to benefit from the move.
Rob Swain, general manager of KFC UK & Ireland, said: “We’ve been serving customers in the UK for 60 years now, but we’ve never seen such strong demand for freshly prepared, fried chicken as we’re seeing today. As the market leader and a near-£2bn revenue business, we’re incredibly well positioned to unlock this opportunity. That’s why we’re doubling down on our commitment to the UK & I with a major investment in our restaurants, and in the suppliers who have been so crucial to our success, which will create jobs in local communities across the country.”
The investment plan is part of KFC’s efforts to strengthen its presence in the UK and Ireland. To mark 60 years operating in the UK and Ireland, KFC has released its first economic and community impact report, which highlights the company’s significant contribution to the UK economy. According to City AM, KFC adds £1.10bn of total annual economic contribution to the UK economy every year and spends £856m annually directly with UK-based suppliers. The brand also estimates that it has contributed £11.6bn to the UK economy over the last six decades.
KFC and its 27 franchise partners employ a total of 33,500 people. The company’s commitment to job creation and economic growth has been welcomed by industry leaders, with Kate Nicholls, chief executive of UKHospitality, saying: “Hospitality’s ability to create places where people want to live, work and invest is unrivalled. This significant announcement from KFC is proof of that and will help to drive socially productive growth, deliver economically and support employment across the UK.”
The investment plan is a significant boost to the UK economy, and City AM reports that it will have a positive impact on the country’s economic growth. With its commitment to job creation and investment in local communities, KFC is demonstrating its dedication to the UK and Ireland.
In related news, Yum! Brands, the owner of KFC and Pizza Hut, surged back into the black in 2023 after a bumper year for its brands. The group’s European division has reported a pre-tax profit of $317.1m (£248.2m) for 2023, having posted a pre-tax loss of $300m (£234.8m) in the prior year.
Overall, KFC’s £1.5bn investment plan is set to have a significant impact on the UK economy, creating jobs and driving economic growth. With its commitment to investment in local communities and job creation, the company is demonstrating its dedication to the UK and Ireland.
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