Tuesday, May 23, 2017

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Pizza Hut® will be the first international food chain in Pakistan to offer an IPO By : Karachi Chronicle

MCR (franchisee of Pizza Hut® Pakistan) announced signing an initial public offering and master franchise agreement with Yum. MCR will be the first international food chain to have ventured on this path. With over 70 Pizza Hut® restaurants across the nation, it is already the largest international fast food chain in Pakistan.
Randall Blackford and Aqueel Hassan sign an agreement as US Consul General
Grace Shelton looks on
The signing ceremony took place at an event held at the US Consulate

Aqueel Hassan, CEO of MCR, and Randall Blackford, Managing Director META Region of YUM! Brands, signed a master franchise agreement on behalf of the two companies giving MCR the rights to sub-franchise Pizza Hut® restaurants and expand its presence in Pakistan.

The event was chaired by US Consul General Grace Shelton. Speaking at the occasion Consul General Shelton said, “Today we mark another successful American-Pakistani business partnership. We are delighted to celebrate Pizza Hut’s® growth as the largest restaurant chain in Pakistan”
 Team Pizza Hut with guests at the ceremony
Speaking on the occasion, Aqueel Hassan said, “We are proud to be embarking on this landmark expansion which takes forward our partnership with YUM! Brands. Pizza Hut® has become the first international food chain in the country that plans to go public and our next target is to take Pizza Hut® restaurants to many more districts of the country."

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