Yum! Approves Acquisition of Pacific Island Restaurants Inc

3 March 2017
NZX


YUM! APPROVES THE ACQUISITION OF PACIFIC ISLAND RESTAURANTS, INC.

Late last year Restaurant Brands New Zealand Limited (NZX: RBD) announced that it had entered into
a conditional agreement to purchase 100% of the shares in Pacific Island Restaurants, Inc. (“PIR”). PIR
is the sole Taco Bell and Pizza Hut franchisee in Hawaii, Guam and Saipan, with a network of 37 Taco
Bell stores and 45 Pizza Hut stores. The agreement was conditional on receiving approval from Yum!
Brands Inc. (“Yum!”), the parent company of both Pizza Hut and Taco Bell.

RBD is pleased to advise that it has now received approval from Yum! (subject to payment of all fees
on settlement) to proceed with the transaction. Settlement is expected to occur within the next two
weeks.

The delay in settlement means that there was no contribution from the Hawaiian operations in the
financial year ended 27 February 2017. As a result, NPAT (excluding non-trading) will be at the lower
end of the previously announced $30-32 million guidance.




For further information please contact

Russel Creedy Grant Ellis
CEO CFO/Company Secretary
Phone: 525 8700 Phone: 525 8700

ENDS




RESTAURANT BRANDS NEW ZEALAND LIMITED