The announcement marks 60 years of KFC in the UK and Ireland (UK&I) and forms part of the fast-food chain’s future growth strategy.
These plans include opening 500 new outlets over the next decade, as it looks to become the fastest growing restaurant brand for the next generation.
As much as £466 million will go into opening new restaurants across the UK and Ireland, with a focus on building flagship sites and ‘drive-thrus’ in locations where there is particular opportunity for growth such as Ireland and North West England.
Part of this sum will also be used to upgrade more than 200 existing KFC restaurants (20% of the KFC estate) with a new design and latest digital capabilities.
An additional £583 million will be injected into jobs and its supply chain over the next five years, with the company expecting to create more than 7,000 new roles within its UK&I division.
Meanwhile £404 million will go into strengthening its relationships with its suppliers, including Pilgrim’s Europe, McCormick, and Nature’s Way which supply its chicken, gravy and salads respectively.
The total investment is anticipated to contribute a further £169 million of direct gross value added to the UK economy over the next five years.
The move comes as the nation’s appetite for fried chicken continues to grow at pace – estimated to be worth £3.1 billion – fuelled in part by KFC’s UK&I expansion which began in Preston in 1965.
During its 60-year-history in the UK&I, KFC is estimated to have contributed £11.6 billion to the UK economy, through its investment, its spending with UK suppliers and the impact of its team members’ wages.
The market for fried chicken is expected to grow further, with KFC claiming consumer demand for fried chicken is outstripping other QSR categories.
“We’ve been serving customers in the UK for 60 years now, but we’ve never seen such strong demand for freshly prepared, fried chicken as we’re seeing today,” commented Rob Swain, general manager KFC UK & Ireland.
“As the market leader and a near-£2 billion revenue business, we’re incredibly well positioned to unlock this opportunity. That’s why we’re doubling down on our commitment to the UK&I with a major investment in our restaurants, and in the suppliers who have been so crucial to our success, which will create jobs in local communities across the country.”
