In an event held at the US Consulate, MCR(franchisee of Pizza Hut® Pakistan) announced signing an initial public offeringand master franchise agreement and IPO proposal. MCR will be the first Pakistani international food chain to have done. With over 70 Pizza Hut® restaurants across the nation, it is the largest international fast food chain in Pakistan.
In addition, Aqueel 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.
The event was chaired by US Consul General Grace Shelton. 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 celebratePizza Hut’s® growth as the largest restaurant chain in Pakistan”
Speaking on the occasion, 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.”