Restaurant Brands
Restaurant Brands is a New Zealand fast-food operator and master franchisee for KFC, Pizza Hut, Carl's Jr., and Taco Bell in selected markets.
Last updated August 31, 2026
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Overview
Restaurant Brands is a New Zealand fast-food company that operates restaurants and holds master-franchise rights for several major international quick-service brands. Its principal New Zealand portfolio comprises KFC, Pizza Hut, Carl's Jr., and Taco Bell. The company operates many of the restaurants itself while also providing management, supply-chain, marketing, and other support services to independent franchisees. Outside New Zealand, its operations have included KFC and Taco Bell restaurants in Australia and the United States, together with Pizza Hut and Taco Bell restaurants in Hawaii, Guam, and Saipan. The business was established around the acquisition of PepsiCo's New Zealand restaurant interests. It acquired KFC in 1989 and Pizza Hut in 1995, initially taking control of a network of 122 stores. Restaurant Brands was listed on the New Zealand Stock Exchange in 1997 at an offer price of NZ$2.20 per share. KFC became the company's largest revenue contributor, while Pizza Hut was progressively reshaped from a dine-in family restaurant chain into a takeaway and delivery-focused operation. Restaurant Brands expanded beyond New Zealand in 2002 by buying 52 Pizza Hut restaurants in Victoria, Australia. That venture was ultimately unsuccessful, and the company exited the Australian Pizza Hut business by early 2008. It later returned to international expansion through the acquisition of the New Zealand Carl's Jr. franchise in 2011, the purchase of the New South Wales KFC franchisee QSR Pty Ltd in 2016, and the 2017 acquisition of Pacific Island Restaurants, the franchisee for Pizza Hut and Taco Bell in Hawaii, Guam, and Saipan. In 2019 it also acquired Taco Bell rights in New Zealand, opening the country's first Taco Bell restaurant that year. Restaurant Brands expanded in the United States through the 2020 settlement of a transaction for KFC and combined KFC-Taco Bell restaurants in Southern California. The company previously operated Starbucks stores in New Zealand, but sold that business in 2018 after deciding not to renew its licensing arrangements. Restaurant Brands has faced the same inflationary pressures affecting much of the restaurant industry, including higher food, labour, energy, and occupancy costs, which contributed to weaker profits during the 2021–2023 period. In 2019, Mexican investment company Finaccess acquired 75% of the company. In 2025, Finaccess proposed acquiring the remainder of Restaurant Brands for NZ$360 million; the final outcome and any resulting change in listing status require verification. Restaurant Brands remains primarily a multi-brand restaurant operator whose strategy combines company-operated stores, franchise management, geographic expansion, and selective portfolio restructuring.
History
Restaurant Brands New Zealand developed from PepsiCo's New Zealand fast-food interests. The company acquired KFC in 1989 and Pizza Hut in 1995, assembling an initial portfolio of 122 outlets that included KFC stores, Pizza Hut stores, and combined locations. It became a publicly traded company on the New Zealand Stock Exchange in 1997. KFC had entered New Zealand in 1971, beginning with a restaurant in Royal Oak, Auckland, and became the most important contributor to Restaurant Brands' sales. Pizza Hut followed in 1974 with a New Lynn restaurant. Before Restaurant Brands acquired the business, Pizza Hut had been built into a substantial dine-in chain under franchisee Garry Melville-Smith. Restaurant Brands later changed the format toward delivery and takeaway, including the conversion of Eagle Boys outlets into Pizza Hut stores around 2000. Beginning in 2011, some smaller regional Pizza Hut stores were transferred to independent franchisees. The company first attempted overseas expansion in 2002, when it purchased 52 Pizza Hut restaurants in Victoria, Australia. The Victorian operation did not meet expectations, and Restaurant Brands withdrew from the Australian Pizza Hut market by early 2008. It subsequently concentrated on more targeted expansion. In 2011 it obtained the New Zealand Carl's Jr. franchise, opening the first stores from late 2012. In 2016 it bought QSR Pty Ltd, a large New South Wales KFC franchisee, strengthening its Australian KFC presence. In 2017 Restaurant Brands acquired Pacific Island Restaurants, the exclusive Pizza Hut and Taco Bell franchisee in Hawaii, Guam, and Saipan. The transaction added 45 Pizza Hut stores and 37 Taco Bell stores and gave the company greater operational exposure to Taco Bell. Restaurant Brands later secured New Zealand Taco Bell franchise rights, opening the first local restaurant in New Lynn in November 2019 and a second location in Auckland's central business district in June 2020. Restaurant Brands also expanded in the United States. It entered into an agreement in late 2019 to acquire Southern California restaurants and, following approvals and lease assignments, completed the purchase of 69 stores in September 2020. The acquired estate consisted principally of KFC restaurants, along with combined KFC and Taco Bell locations and a head-office facility. The company operated Starbucks in New Zealand from 1998, growing the chain to 26 stores. In 2018 it decided not to renew its licensing arrangements with Starbucks Coffee International and sold the stores' fixed assets and inventory to Tahua Capital for NZ$4.4 million. This represented a portfolio simplification and allowed Restaurant Brands to focus on its core quick-service restaurant brands. Finaccess acquired 75% of Restaurant Brands in March 2019. The business subsequently operated through a period of sharply rising food and operating costs, with inflation contributing to profit pressure between 2021 and 2023. In September 2025, Finaccess proposed buying the remaining shares for NZ$360 million. The final result of that proposal, including any effect on the company's public listing, should be confirmed from current corporate disclosures.
- 2020
Southern California acquisition completed
[1]Restaurant Brands completed the acquisition of 69 KFC and combined KFC-Taco Bell restaurants.
- 2019
Finaccess becomes majority owner
[1]Finaccess acquired 75% of Restaurant Brands.
- 2018
Starbucks business sold
[1]Restaurant Brands sold its New Zealand Starbucks assets after deciding not to renew its licensing arrangements.
- 2017
Pacific Island Restaurants acquired
[1]The acquisition added Pizza Hut and Taco Bell operations in Hawaii, Guam, and Saipan.
- 2011
Carl's Jr. franchise acquired
[1]Restaurant Brands obtained the New Zealand Carl's Jr. franchise.
- 2002
Australian Pizza Hut expansion
[1]Restaurant Brands acquired 52 Pizza Hut stores in Victoria, Australia.
- 1997
Public listing
[1]The company listed on the New Zealand Stock Exchange.
- 1995
Pizza Hut acquired
[1]Restaurant Brands acquired the Pizza Hut New Zealand business from PepsiCo.
- 1989
KFC acquired from PepsiCo
[1]Restaurant Brands acquired the KFC New Zealand business.
- 1974
Pizza Hut enters New Zealand
[1]Pizza Hut opened its first New Zealand restaurant in New Lynn, Auckland.
Products and positioning
A multi-brand quick-service restaurant operator and master franchisee serving mass-market customers through globally recognised food brands, with a strong New Zealand operating base and selected international holdings.
fried chicken quick-service restaurants · 1971
KFC
KFC is Restaurant Brands' largest New Zealand business and its principal revenue contributor. The operation sells fried chicken meals, burgers, wraps, sides, desserts, beverages, and group meal combinations through company-operated and franchised restaurants. Restaurant Brands also operates KFC restaurants in Australia and Southern California.
pizza quick-service restaurants · 1974
Pizza Hut
Pizza Hut entered New Zealand as a dine-in family restaurant but was repositioned by Restaurant Brands toward delivery and takeaway. The business offers pizzas, sides, desserts, and meal bundles, with many locations focused on delivery operations and some regional stores operated by independent franchisees. Restaurant Brands also holds Pizza Hut operations in Pacific markets.
burger quick-service restaurants · 2012
Carl's Jr.
Carl's Jr. is Restaurant Brands' New Zealand burger concept. The chain began rolling out locally in late 2012 after Restaurant Brands acquired the franchise rights in 2011. Its menu is centred on burgers, chicken products, fries, beverages, and other American-style quick-service items.
Mexican-inspired quick-service restaurants · 2019
Taco Bell
Taco Bell joined Restaurant Brands' New Zealand portfolio after the company acquired local franchise rights. The first New Zealand restaurant opened in New Lynn in 2019, followed by an Auckland central-city location in 2020. Restaurant Brands also operates Taco Bell restaurants in selected Pacific and United States markets.
coffeehouse chain · 1998
Starbucks
Restaurant Brands operated Starbucks in New Zealand from 1998 and expanded the chain to 26 stores. It ended the licensing relationship in 2018 and sold the stores' fixed assets and inventory to Tahua Capital, making Starbucks a former rather than current portfolio brand.
Marketing campaigns
- 2024Pizza Hut New Zealand 50th anniversary events
New Zealand
Pizza Hut marked five decades in New Zealand with pop-up lunch, dinner buffet, and dessert events in Auckland.
- 1998Pizza Hut delivery and takeaway conversion
New Zealand
Restaurant Brands began converting Pizza Hut from a dine-in family restaurant model toward delivery and takeaway, supported by the acquisition and rebranding of Eagle Boys outlets.
Outcome. The network became predominantly delivery- and takeaway-oriented.
Brand decisions
2019
Taco Bell New Zealand launchProduct launchBackground
Restaurant Brands had obtained the New Zealand Taco Bell franchise rights after years of market speculation.
Action taken
The first New Zealand Taco Bell restaurant opened in New Lynn, Auckland, in November 2019.
Aftermath
A second Auckland location opened in June 2020, establishing Taco Bell as a new local brand in the portfolio.
2018
Exit from Starbucks licensingStrategyBackground
Restaurant Brands' Starbucks licensing arrangements in New Zealand were approaching renewal.
Action taken
The company chose not to renew the agreements and sold the Starbucks stores' fixed assets and inventory to Tahua Capital.
Aftermath
Restaurant Brands exited the coffeehouse business and concentrated its portfolio on its core quick-service restaurant brands.
Sale proceeds. NZ$4.4 million (2018)
Recent events
- 2025
Finaccess proposes full acquisition of Restaurant Brands[1]
M&A
Finaccess proposed acquiring the remaining Restaurant Brands shares for NZ$360 million after already holding a 75% interest. Completion and final ownership status require verification.
- 2020
Southern California restaurant acquisition settles[1]
M&A
After satisfying franchisor and lease conditions, Restaurant Brands completed the purchase of 69 KFC and combined KFC-Taco Bell stores in Southern California.
- 2019
Finaccess acquires majority stake in Restaurant Brands[1]
M&A
Mexican investment company Finaccess acquired 75% of Restaurant Brands.
- 2019
Restaurant Brands opens first Taco Bell in New Zealand[1]
Product launch
Taco Bell entered the New Zealand market with a restaurant in New Lynn, Auckland.
- 2017
Pacific Island Restaurants acquisition expands Pizza Hut and Taco Bell footprint[1]
M&A
Restaurant Brands acquired the franchisee operating Pizza Hut and Taco Bell in Hawaii, Guam, and Saipan for US$105 million.
- 2016
Restaurant Brands buys New South Wales KFC franchisee[1]
M&A
The company agreed to acquire QSR Pty Ltd, a major New South Wales KFC franchisee, for A$82.4 million in cash and shares.
- 1997
Restaurant Brands lists on the New Zealand Stock Exchange[1]
Other
Restaurant Brands completed its public listing with an offer price of NZ$2.20 per share.
Sources1 sources
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