Uni-President in Talks to Buy Asian KFC and Pizza Hut Operator
Taiwan’s Uni-President Enterprises is in talks to acquire Jardine Restaurant Group, which operates about 1,000 KFC and Pizza Hut outlets in Asian markets including Vietnam. The deal is valued at about $400 million, and the parties could sign an agreement by the end of 2026, though completion remains uncertain.
Taiwan’s Uni-President Enterprises is in talks with Jardine Matheson to acquire its restaurant business, Jardine Restaurant Group (JRG). Reuters cited people familiar with the matter as saying the deal is valued at about $400 million, equivalent to more than 10 trillion Vietnamese dong. The parties could sign an agreement by the end of 2026, but final terms are still under discussion and a deal is not certain.
JRG operates about 1,000 KFC and Pizza Hut outlets in Vietnam, Hong Kong, Macau, Myanmar and Taiwan, with a combined workforce of about 25,000. Sources said JRG generates annual earnings before interest, taxes, depreciation and amortization of about $35 million to $40 million. At a sale price of $400 million, its enterprise value would be about 10 to 11.4 times that figure.
The business has also attracted interest from other potential buyers. Reuters reported in May 2026 that Carlyle Group and Yum China were considering participating in the deal. Jardine Matheson has declined to comment on the talks, while Uni-President has yet to respond to Reuters’ request for comment.
Uni-President’s businesses span food manufacturing, retail, distribution, logistics and packaging. It is also involved in convenience stores and coffee chains in Taiwan. If the acquisition is completed, its fast-food business would expand. The proposed sale of JRG is part of Jardine Matheson’s portfolio adjustments; in January 2026, the group completed its $4.2 billion acquisition of the remaining shares in Mandarin Oriental Hotel Group.
Source: VietVance
