2233 GMT - Collins Foods may want to consider pushing to be awarded the KFC master franchise rights for Germany by Yum! Brands, according to Citi's Sam Teeger. He reckons that's potentially a better way of Collins increasing its scale in Europe, as desired, versus an acquisition in a new market. Teeger's remarks follow a Yum! Brands filing showing that, in December 2024, it re-acquired the KFC rights for Germany from IS Gida. "We recently published our thoughts that if Collins was going to expand in Europe, then the U.K. or Italy would be potential markets," Teeger says. "But we see Germany as relatively lower risk given Collins already has experience in this market and its adjacency to the Netherlands could present cost-sharing and sourcing benefits." Citi has a buy rating and A$9.38 target on Collins, which last traded at A$7.22. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 09, 2025 17:34 ET (22:34 GMT)
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