Fowler Foods sells stakes in 90 KFC restaurants in multi-million dollar deal
For the first time in 57 years, the Fowler family in Jonesboro is not in the KFC franchise business. Fowler Foods President Chris Fowler told Talk Business & Politics his company sold stakes in 90 KFC restaurants and in a separate transaction sold a Taco Bell restaurant in Jonesboro.
Fowler said he could not disclose the dollar amount of the transactions due to nondisclosure agreements. Based on other reported sales and industry reports, the KFC franchise sales likely exceed $100 million. The deal was completed on Dec. 23.
“It was the right time. There are a lot of people out there that want to grow in this business and it’s their time,” he said.
Fowler Foods will continue to operate, but on a pared down basis, he said. The company only owned three of the restaurants and served as a management company for the other 88 restaurants.
The stores were in Florida, Tennessee, Alabama, Mississippi, Kentucky, Illinois,…
