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Funding deal seals further growth for Herbert KFC portfolio

September 26th, 2017 | by LCN Editor
Funding deal seals further growth for Herbert KFC portfolio

The Herbert Group, owner of the largest Kentucky Fried Chicken franchise in Europe, has added a further 27 outlets to its chain in GB and Ireland and promised 100 new jobs.

The group is owned by NI businessman, Michael Herbert, best-known perhaps for a chain of commercial and residential properties here named after his wife, Lesley.

The expansion was announced following a major refinancing deal with Danske Bank, which provided £27m of new funding.

Of the 100 new jobs being created, 80 of the roles will support the roll-out of the KFC home delivery service in Northern Ireland and the other 20 will be based at the group’s head office building in Belfast.

Speaking after the expansion was revealed, the group’s finance director, Jason Carlisle said that plan was “a great strategic move” for its growing operations across the British Isles.

“In the past 12 months, we have recruited for a number of senior positions across our finance, operations and development pillars in order to support the group’s growth plans,” added Jason. “The transaction with Danske Bank provides the group with the platform and funding structure to pursue further acquisitions.”

Mr Herbert was last in the news here in June when he sold off two of his Belfast city centre office buildings for more than £5m.

Lesley Exchange buildings 1 and 2 were both sold before a major property auction organised by Osborne King got underway. It was reported at the time that both buildings had gone for at least their maximum reserve prices – £3.15m for Lesley Exchange 1, which is fully let to the Department of Finance and £2.3m for the other, adjacent property.

Our picture shows Michael Herbert, owner of the Herbert Group with Brian Shane, corporate banking manager at Danske Bank; Jason Carlisle, finance director at The Herbert Group and Geoff Sharpe, head of corporate at the bank.

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