March 23 (Reuters) - Collins Foods Ltd (CKF) Acquisition of KFC...

March 23 (Reuters) - Collins Foods Ltd (CKF)

• Acquisition of KFC restaurants in the Netherlands
• Unit has entered into a binding agreement to acquire 16 KFC restaurants located in Netherlands from subsidiaries of Yum! Brands
• Deal for consideration of EUR 62.3 million
• Acquisition and associated equity raising costs will be funded via a fully underwritten A$54.5 million placement
• Mark Van 't Loo has been appointed as CEO Europe
• Acquisition is expected to be mid single digit EPS accretive for Collins Foods shareholders in first full financial year of ownership
• For period ending 30 sept 2016, Netherlands acquisition generated revenue of EUR 46.6 million and EBITDA of EUR 7.3 million on a pro forma basis
• Development agreement was entered into with unit of Yum! for roll-out of more than 20 new KFC Restaurants by Collins Foods in Netherlands by 31 Dec 2021