Restaurant Brands has signed a master franchise agreement with Yum! Foods to continue operating the Pizza Hut brand in New Zealand. The new agreement will last for 10 years and will allow Restaurant Brands to continue to run marketing and operations for the brand, support existing independent franchisee-owned stores and develop new stores. It will remain in charge of day-to-day administration of the brand.
In recent years Pizza Hut has been selling low-volume stores to independent franchisees – 33 of 98 countrywide remain under the control of the company.
Yum! Brands owns Pizza Hut, KFC and Taco Bell and is the world's largest fast-food restaurant company. Restaurant Brands is New Zealand’s largest fast-food restaurant company, owning the local licenses for KFC, Pizza Hut, Starbucks Coffee and Carl's Jr. The company's shares have increased in value by a third over the past year, last trading at $7.97.