Restaurant Brands Reaches 100th Store Milestone

7 December 2004

Restaurant Brands Reaches 100th Store Milestone

Restaurant Brands today reached a significant milestone in the company’s seven-year history, with the opening of its 100th Pizza Hut store in Cambridge.

Chief Executive Vicki Salmon and members of the Restaurant Brands board were at the new store for the official opening by Cambridge local and Restaurant Brands Chairman, Bill Falconer.

The Company had 43 Pizza Hut stores when it floated in 1997. The majority of those stores were the traditional iconic “red-roof” Pizza Hut restaurants. Following the merger with the Eagle Boys Pizza chain in 1998, the number of stores grew to 81 and included many of the new Delco outlets.

Vicki Salmon said since then, Restaurant Brands has continued to build the Pizza Hut brand in New Zealand and will have rolled out 10 new stores this year.

Pizza Hut continues to be one of the company’s strongest performers, and the Cambridge store continues the brand’s successful growth in New Zealand.

“In the past few months we have opened new stores in Christchurch, Taradale, Albany, Hawera, Pukekohe, Takanini, Papamoa and Rangiora. These stores have shown the great appetite for Pizza Hut in New Zealand and reinforces Pizza Hut’s commitment to the local market.” said Salmon.

“The opening of the Cambridge store is a great achievement for Pizza Hut in a town with a strong community and growing economy.”

The new store will provide full-time employment for five locals, and part-time employment for twenty.

Notes:

The first New Zealand Pizza Hut restaurant was opened in New Lynn (Auckland) in September 1974. From 1974 to 1995 the Pizza Hut brand was licensed to an independent franchisee where in January 1995 Yum!Restaurants International (the world's largest restaurant operator) acquired the business.

In May 1997, Restaurant Brands New Zealand Limited acquired the rights to hold the franchise for Pizza Hut in New Zealand and in June of that year became a publicly listed company on the NZ Stock Exchange.

Restaurant Brands are also the parent company behind KFC and Starbucks in New Zealand.

ENDS

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