KFC to create over 7,000 UK jobs and open 500 restaurants in £1.5bn move
KFC has revealed a £1.5bn plan to create more than 7,000 jobs in the UK and Ireland over the next five years and open a further 500 restaurants by 2035.
The fast-food giant said £466m will go towards opening new locations focusing on building flagship sites and drive-thrus in “key locations” such as Ireland and North West England.
Part of that figure will also be spent on upgrading more than 200 existing KFC restaurants – 20 per cent of the brand’s estate.
KFC said its plans to create more than 7,000 jobs over the next five years will see it invest £583m.
The brand added that it will spend £404m to “strengthen KFC’s long-standing relationships with its suppliers and help businesses across the UK&I continue to grow”.
It said companies such as Pilgrim’s Europe, McCormick, Nature’s Way and Fourth are some of the businesses which are set to benefit from the move.
KFC has also said that its investment will contribute a further £169m of direct gross value added (GVA) to the UK economy over the next five years.
It said that would be achieved through building new restaurants, hiring more people, spending more with UK suppliers and increasing the earning and spending potential of its employees and partners.
KFC talks up it impact on the UK’s economy
Rob Swain, general manager KFC UK & Ireland, said: “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.
“As the market leader and a near-£2bn 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.”
Kate Nicholls, chief executive of UKHospitality, added: “Hospitality’s ability to create places where people want to live, work and invest is unrivalled.
“This significant announcement from KFC is proof of that and will help to drive socially productive growth, deliver economically and support employment across the UK.”
To mark 60 years operating in the UK and Ireland, KFC has released its first economic and community impact report.
According to the figures released by the brand, KFC adds £1.10bn of total annual economic contribution to the UK economy every year and spends £856m annually directly with UK-based suppliers
The brand also said that over the last six decades it is estimated to have contributed £11.6bn to the UK economy.
KFC and its 27 franchise partners employ a total of 33,500 people.
In August 2024, City PM reported that Yum! Brands, the owner of KFC and Pizza Hut, surged back into the black in 2023 after a bumper year for its brands.
The group’s European division has reported a pre-tax profit of $317.1m (£248.2m) for 2023 having posted a pre-tax loss of $300m (£234.8m) in the prior year, according to accounts with Companies House.
The firm is a holding company for the wider group’s investments and does not generate a turnover.
Its profit was generated through the write back of its investment in Yum! Restaurants Europe and dividends from that firm and Pizza Hut Europe.
For the same financial year, KFC itself generated a turnover of £294.5m, up from £284.2m, while its pre-tax profit went from £89.9m to £59.1m.