Morimor on asset acquisition of KFC and Dairy Queen Panama in favour of PBSA
Morgan & Morgan has advised Platinum Brands (PBSA) on the acquisition of the assets related to the operation of the Kentucky Fried Chicken (KFC) and Dairy Queen franchises in the Republic of Panama, previously owned by Franquicias Panameñas (FPSA).
As part of this transaction, PBSA has assumed the operation of more than 70 fast food restaurants, as well as the entire payroll associated with those establishments. The acquisition involved a complex structuring that allowed PBSA to assume the assets of the business and certain liabilities to suppliers, in strategic alliance with FPSA.
The firm also provided strategic advice to Norbrook Equity Partners on the structuring and closing of two secured credit facilities, which were instrumental in financing a portion of the purchase price.
PBSA has expressed enthusiasm for the opportunity to lead the growth of these iconic franchises in Panama through significant investment. Plans include renovating existing restaurants, modernising their facilities and improving the customer experience. In addition, PBSA aims to open new outlets in several strategic locations throughout the country, which will not only expand the presence of KFC and Dairy Queen, but also generate new employment and economic development opportunities in local communities.
This substantial investment reflects PBSA’s commitment to innovation and quality, ensuring the continuity of franchising in the fast food market in Panama. The collaboration with FPSA as minority partners further strengthens this initiative, bringing local knowledge and expertise to the projected growth.
PBSA is a subsidiary of Norbrook Equity Partners, a Jamaica-based investment firm that operates several businesses in the Caribbean and now in Central America. With a proven track record in creating value through exceptional and enhanced growth strategies, Norbrook Equity Partners is well positioned to drive the continued success of these franchises in the region.
Morgan & Morgan’s team was led by partner Francisco Arias (pictured left), with support from partners Aristides Anguizola (pictured centre), José Rafael Reyes (pictured right) and Ricardo Alemán, international associate Miguel Arias M., senior associates María Eugenia Brenes and Milagros Caballero, and associates Ariana Linares and Yaneth Barrera.