Restaurant franchise operator IMC has agreed to sell a 58.3% stake in its KFC operations in Brazil for $35m, as reported by Reuters.
IMC has signed a binding agreement to create a joint venture (JV) with Kentucky Foods Chile for the divestment.
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The move bolsters the KFC brand’s presence in Brazil while allowing IMC to reduce its debt.
The deal, which values the KFC operations at $60m, grants the JV exclusive rights to operate KFC in Brazil.
There are 230 KFC restaurants in the country, as stated by IMC, which manages brands there including Pizza Hut.
Despite the sale, IMC’s market valuation remains lower than the deal’s valuation of its KFC operations, with the former close to $55m.
In February 2025, it was announced that KFC is relocating its US corporate headquarters from Louisville, Kentucky to Plano, Texas.
The move by Yum! Brands will consolidate KFC US corporate office workers with the global teams of KFC and Pizza Hut already based in Plano.
Yum! Brands CEO David Gibbs stated: “These changes position us for sustainable growth and will help us better serve our customers, employees, franchisees and shareholders.
“Ultimately, bringing more of our people together consistently will maximise our unrivalled culture and talent as a competitive advantage. I’m confident this is another important step in growing our iconic restaurant brands globally.”
100 corporate employees will transition between March and September 2025, with an additional 90 remote workers set to join by August 2026.
KFC introduced a new menu item in March 2025 – the “Dunk It Bucket,” which includes mashed potato poppers.
The bucket also features KFC’s original recipe tenders, secret recipe fries and a selection of dipping sauces.
