Unbridled Capital recently provided sell-side advisory services to Scottish Food Systems, led by Tom Broome, on the sale of 28 KFC restaurants in North and South Carolina. The restaurants were acquired by existing franchisee KBP Brands.
Scottish Foods Systems was one of KFC’s most successful and storied franchisees dating back to 1964, when founder Edwin Pate Jr. signed a franchise contract with Colonel Harland Sanders in Laurel Hill, NC. Through several generations of growth and successful management, the company expanded to 28 KFC restaurants. Tom Broome, President since 2007, has been a key leader throughout the KFC system, serving as Vice-Chair of the NCAC as well as a variety of other brand-supporting roles.
“Ever since working for KFC Corporate over 20 years ago, I was well aware of the legacy of success, operational prowess, and remarkably high AUVs that defined the Scottish Food System family. They are clearly one of KFC’s best franchisees – if not the best. I have looked up to Tom and his brand leadership for many years as well. For Unbridled, we were honored to receive the call when they decided to consider a sale. Even in a difficult environment, the outcome here was both successful and expedient. To the Scottish Foods family, we thank you with well wishes after 60 fond years. And congrats to KBP Brands – you have acquired tremendous restaurants, and we are cheering for your success,” said Rick Ormsby, Managing Director at Unbridled Capital.
“We are very thankful to Unbridled Capital for their professionalism and guidance during this sale process. When investigating the possibility of a sale, Rick and Derek did a remarkable job of working with our shareholders to define the landscape, timing, valuation, and likely options in a sale. Once we decided to move forward, Unbridled ran an excellent process to identify the best offer, and they worked tirelessly to get the deal closed. Overall, the process was a smooth one, quite dissimilar to what we have been hearing in the broader M&A market, and we are pleased with the outcome. Unbridled is excellent at their craft, and they are trustworthy and relatable. We offer our strongest endorsement of Unbridled Capital and their organization,” said President Tom Broome.
As a condition of this closing, Unbridled Capital will make a donation to the KFC Foundation. The Foundation supports, empowers, and serves joy to KFC restaurant employees and their communities through education accessibility, financial & crisis assistance, and community giving initiatives. And at Unbridled, we want to be a blessing because we have been blessed.
With a historical success rate of around 90% in an uncertain M&A environment, why would you go elsewhere? Unbridled Capital is your surest bet when choosing an M&A advisor who can actually get the deal closed. For more information, contact Rick Ormsby at 502-252-6422 and [email protected].