AmRest

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AmRest Holdings SE
Type Societas Europaea (WSE: EAT)
Industry Restaurants
Founded 1993
Founder(s) Henry McGovern
Headquarters Wrocław, Poland
Number of locations 676[1]
Area served
Key people Henry McGovern (Chairman, President and CEO)
Mark Chandler (CFO)
Brands
Revenue
  • Increase PLN 2.353 billion (2012)[2]
  • PLN 1,922 billion (2011)[2]
Operating income
  • Decrease PLN 304.828 million (2012)[3]
  • PLN 322.793 million (2011)[3]
Net income
  • Increase PLN 87.09 million (2012)[2]
  • PLN 50.730 million (2011)[2]
Total assets
  • Decrease PLN 2,547 million (2012)[4]
  • PLN 2,622 million (2011)[4]
Employees
  • Increase 22,000 (2012)
Website www.amrest.eu

AmRest (WSE: EAT) is an international fast-food and casual dining restaurant operator. The company is primarily based in Wrocław and operates in Poland, Czech Republic, Hungary, Russia, Bulgaria, Serbia, Croatia, Spain, France, Germany and the United States. AmRest runs close to 700 restaurants. The company had its initial public offering on the Warsaw Stock Exchange in 2005.[5]

History[edit]

Burger King in Złote Tarasy, Warsaw

In 1993 Henry J. McGovern, Donald M. Kendall, Sr., Donald M. Kendall, Jr. and Christian R. Eisenbeiss established American Restaurants Services. Initially, the company held franchise rights to operate Pizza Hut and KFC restaurants in Western Poland. In 1998, it expanded its operations outside Poland, by taking over KFC and Pizza Hut outlets in the Czech Republic which were previously run by Yum! Brands.

In 2000, AmRest Holdings was formed as a joint venture company between American Restaurants and Yum! Brands, and in 2001 the new company took over International Fast Food Polska, the operator of the Burger King locations in Poland. All Burger King restaurants were soon converted into KFC. In 2005, the company acquired the remaining franchise for Yum! concepts in the Czech Republic and Poland becoming the exclusive KFC and Pizza Hut franchisee in those countries. In 2006 AmRest bought the rights to seventeen KFC and Pizza Hut restaurants in Hungary and launched new Freshpoint and Rodeo Drive brands.

In 2001 AmRest bought International Fast Food Polska Sp. z o.o. (IFFP), the operator of Burger King in Poland. Out of the 23 Burger King restaurants acquired, the Company closed 6 and rebranded the remaining 17 into KFC.

In April 2005 April AmRest successfully debuted on the stock market and Yum exited the company as a shareholder; a year later the share price increased by 100%. In May AmRest acquired 8 Big Food restaurants in Czech Republic, and rebranded them into KFC.

In 2007 AmRest opened its first new Burger King restaurant in Poland, the first KFC restaurants in Serbia and Bulgaria and signed joint venture agreements with Starbucks about opening the coffee chain's stores in Poland, the Czech Republic and Hungary. In 2008 company signed agreements about opening Burger King in Bulgaria and acquired several restaurants in the Russian market. In January 2008 AmRest opened first Starbucks store in Prague. The company opened its first Starbucks location in Poland in 2008.

In May 2008, AmRest acquired 80% shares in Apple Grove Holding, the second biggest Applebee's franchisee in the United States.[6]

In April 2010, Warburg Pincus, a premier private equity firm, offered to invest over 300 million pln for a 24.99% shareholding in AmRest.[7] In 2010, AmRest also opened the first Starbucks in Hungary.

In April 2011 AmRest announced the acquisition of Spanish company Restauravia, operating 30 KFC’s and over 120 Italian Casual Dining restaurants La Tagliatella. Due to its unique and exceptionally profitable business model, La Tagliatella was announced to be one of the main drivers of AmRest's global expansion.

2012, AmRest runs 684 restaurants.

External links[edit]

References[edit]

  1. ^ "AmRest". AmRest. Retrieved 2013-04-08. 
  2. ^ a b c d "AmRest Consolidated Financial Report 2012" (PDF 680.28kB). AmRest. p. 4. Retrieved 2013-04-07. 
  3. ^ a b "AmRest Consolidated Financial Report 2012" (PDF 680.28kB). AmRest. p. 79. Retrieved 2013-04-07. 
  4. ^ a b "AmRest Consolidated Financial Report 2012" (PDF 680.28kB). AmRest. p. 6. Retrieved 2013-04-07. 
  5. ^ "AmRest debuted on the WSE". Warsaw Stock Exchange. 2005-04-28. Retrieved 2013-04-07. 
  6. ^ "Majority stake in Applebee's franchisee sold". Nation's Restaurant News. 2008-07-21. Retrieved 2013-04-07. 
  7. ^ "AmRest". Warburg Pincus. Retrieved 2013-04-07.