LAHORE – Pizza Hut has decided to double its presence in Pakistan, the company and its local partner announced the other day, adding that they would open 75 new outlets at an approximate investment of $3.4 million.

 During a ceremony at the US Consulate, a new franchise agreement was signed between Yum! Brands – a Fortune 500 company that owns Pizza Hut – and its local partner MCR. The deal was aimed at expanding Pizza Hut’s presence in Pakistan and adding to its network of 75 outlets over the period of next five years.

Aqeel Hassan, CEO of MCR, and Randall Blackford, Managing Director META Region of YUM! Brands signed a master franchise agreement on behalf of the two companies giving MCR the rights to sub-franchise Pizza Hut restaurants and expand even further.

Grace Shelton, US Consul General Karachi had graced the event. Speaking at the occasion, Consul General Shelton said, “Today we mark another successful American-Pakistani business partnership as we inaugurate this new partnership between Pizza Hut and YUM! Brands, we are happy to celebrate Pizza Hut’s growth as the largest restaurant chain in Pakistan”.

Aqueel Hassan said, “We are proud to be embarking on this landmark expansion which takes forward our partnership with YUM! Brands. With 74 outlets operational countrywide, Pizza Hut has become the first international food chain in the country that plans to go public and our next target is to take Pizza Hut restaurants to many more districts of the country.” -PR