Islamabad-based Maaks International has acquired MCR and MCR Pakistan, the firms that run food chains Pizza Hut and Burger King, respectively, in the country, in a transaction industry officials put in the range of $10 million to $15 million.
The franchise business of the two food outlets is currently out of commission with the new owner vowing a comeback within this month, and an addition of roughly 25 new outlets each year. The companies will retain their brand identity, but will come under new management.
Maaks International, a privately-held business, has operations in the rice, petroleum, hospitality, pharmaceuticals, and FMCG sectors.
Its acquisition will involve running the operations of 84 Pizza Hut and 9 Burger King outlets in the country. The new management vows to take this number higher over the next five years.
