Uni-President in talks to acquire KFC and Pizza Hut operator

Photo: baodautu.vn

A subsidiary of Jardine Matheson, JRG is headquartered in Hong Kong and operates approximately 1,000 KFC and Pizza Hut outlets across Hong Kong, Macau, Myanmar, Taiwan, and Vietnam, employing around 25,000 people.

The potential transaction comes as global fast-food chains benefit from urbanisation, young populations, and rising demand for affordable dining options across parts of Asia. These trends have attracted investment from regional strategic buyers and private equity funds over the past decade.

Reuters reported that an agreement could be signed by the end of this year, although negotiations are ongoing and the terms have yet to be finalised.

In Vietnam, JRG has direct links to both KFC and Pizza Hut, although its ownership interests in the two businesses differ. The two brands have established a sizeable presence in the local market, with a combined network of approximately 380 outlets.

According to information on JRG’s website, the group acquired a 25 per cent stake in Pizza Hut’s Vietnam operations in 2005 before increasing its ownership to 100 per cent in 2011. The brand is operated in Vietnam by Pizza Vietnam Limited, which the Hong Kong Business Association Vietnam identifies as wholly owned by JRG. The company holds the rights to develop and operate Pizza Hut restaurants and Pizza Hut Delivery outlets in the Vietnamese market.

JRG, meanwhile, said it acquired a 25 per cent stake in KFC’s Vietnam business in 2011.

KFC had expanded its network to 250 restaurants in Vietnam as of June 2026 and was targeting 260 outlets by the end of this year, according to information released by the company. Pizza Hut, meanwhile, operates approximately 130 outlets nationwide, according to its official website.

The difference in ownership structures means the potential acquisition could have different implications for the two brands in Vietnam. If the deal goes ahead, Pizza Hut’s local operating company could come under new ultimate ownership through the acquisition of JRG. For KFC Vietnam, the transaction would involve JRG’s 25 per cent stake, rather than necessarily transferring ownership of the entire restaurant chain.