Sphera Franchise Group opens the third KFC restaurant in Pitesti, an investment…

Sphera Franchise Group (SFG), the administrator in the franchise system of the Pizza Hut, KFC and Taco Bell restaurant chains, opened the third KFC unit in Pitesti, within the Argeş Mall shopping center, a project inaugurated on Thursday by Prime Kapital, developer and investor on the real estate market in Central and Eastern Europe.

“The opening of the third unit in this city aligns with both our financial and development goals and, at the same time, allows us to respond to ever-changing consumer habits through investments in new technologies and digitization,” says Marian Gogu, General Manager, KFC Romania.

The restaurant represents the second opening for Sphera in 2024, after the one in February, in Sibiu, of Drive Thru type, and the company’s investment plans for the current year may include four more openings, in parallel with remodeling of the existing restaurants, projects for which Sphera has budgeted investments of almost 70 million lei.

Through the new unit, KFC creates 35 new jobs, and according to company officials, the employees are assigned a net salary of over 3,100 lei starting from the third month of collaboration, which includes the basic salary, meal vouchers and various bonuses and premiums, according to KFC’s remuneration policy.

The company recorded record sales of 1.5 billion lei in 2023, up 11%, while net profit increased by 80% to around 80 million lei.

SFG shares are up 26% this year and 91% in the last 12 months, at a capitalization of 1.23 billion lei.