Americana Restaurants buys Pizza Hut franchise in Oman

Dubai: Americana Restaurants International has bought out the Pizza Hut franchise in Oman from the Khimji Ramdas Group.  

This means Americana Restaurants - which is dual listed on ADX and Saudi Tadawul - will have a network of 46 Pizza Hut restaurants in the Sultanate with annual revenue of around $11 million in 2024.

Americana Restaurants already operates the Pizza Hut franchise in the UAE and other leading Gulf and Middle East markets.

The Oman move 'supports Americana Restaurants’ strategy to expand its regional footprint and strengthen its presence in existing markets'.

In Oman, the company has been operating brands like KFC and Hardee’s since 1986. "This acquisition not only reinforces Americana Restaurants' commitment to the Sultanate but also fosters economic growth, generates new employment opportunities, and deepens ties with Omani community," said a statement.

In July 2022, Americana Restaurants signed a franchise agreement with Yum! Brands, to develop and operate Pizza Hut restaurants across Saudi Arabia (except for Jeddah). It has since established a network of close to 100 restaurants in the Kingdom.

Through the Oman acquisition, it has increased its network of Pizza Hut restaurants in the region to around 450.

Americana Restaurants is the biggest F&B operator in the MENA markets, using its multiple franchises such as Pizza Hut, KFC and Krispy Kreme to good effect. Recent quarters have been relatively difficult on the top- and bottom-line, weighed down by slower spending in some of the markets as well as unfavourable currency situation.

On ADX, the stock is trading at Dh2.42 against a 52-week high of Dh3.64.