Smith Cooper advises on KFC restaurant sale

Bondholder Smith Cooper Corporate Finance has advised on the multimillion-pound acquisition of seven KFC restaurants in London.

FT Foods, a newly incorporated company owned by Fazan Tahir, has completed the deal with KFC UK & Ireland, forming part of its wider refranchising programme.

FT Foods is part of a grouping of companies created by the Tahir Group, a London-based property development and investment group operating KFC restaurants and Starbucks Coffee shops.

Food and beverage specialists, John Farnsworth and David Crump, at Smith Cooper Corporate Finance assisted FT Foods in developing a bid document, agreeing terms with KFC’s advisers and project-managing the transaction through to completion.

Commenting on the transaction, Fazan Tahir said: "This deal is a significant step in my journey from my start in 1994 to what is today a multi-award-winning, multi-million-pound sales KFC business.

"I am very proud of our innovation, numerous awards and my outstanding team with its best-in-class culture.

"We intend to take the acquired restaurants forward and to add additional outlets, just as we always have done.

"As to the deal process that has been a huge project that I couldn’t have completed without my internal team, the management at KFC, Michael Stace and his team at Browne Jacobson, and the Smith Cooper Corporate Finance team.

"I have known John and David for some time and contacted them right at the start of this process; that turned out to be a key decision and I was tremendously impressed by the professionalism, determination and focus they brought to the delivery of their invaluable input."

Head of Corporate Finance, John Farnsworth, said: "David and I are delighted to have worked with Fazan, his team and advisers, and with KFC and their advisers to secure this important acquisition for the Tahir Group.

"We really enjoyed working with Fazan’s highly-motivated award-winning team, and have no doubt whatever that the business will continue to grow at an exemplary pace whilst still maintaining top operational and service quality – this is an exceptional business."