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Northern Ireland fast food tycoon Herbert sells 146 KFC outlets

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Sale: Michael Herbert

Sale: Michael Herbert

Sale: Michael Herbert

Northern Ireland fast food tycoon Michael Herbert has sold 146 KFC restaurants and other parts of his business for an undisclosed sum.

Mr Herbert, who heads up The Herbert Group, is one of Northern Ireland's richest people.

Now he has sold 146 KFCs, one Pizza Hut venue and some development sites to the EG Group.

The deal means that around 4,000 staff will transfer to the EG Group.

The KFC restaurants are in Northern Ireland and the rest of the UK.

Mr Herbert opened his first KFC in Glengormley in the 1980s.

The businessman also operates a residential property business, Lesley Residential.

He is known for building a string of office blocks also named after his wife Lesley.

EG Group is a British retailer which owns petrol stations and fast food outlets in Europe, the US and Australia.

Law firm DWF advised The Herbert Group on the deal.

Ken Rutherford, executive partner of DWF Belfast, said: "Having worked closely with The Herbert Group for the last 10 years, we are delighted to have played such a key role in this landmark sale and we wish the KFC business every success under its new ownership."

Mr Herbert added: "The successful conclusion of this acquisition demonstrates the value of our long-standing relationship with DWF.

"The professional counsel and support provided by Ken and his team, together with DWF's jurisdictional reach, has been instrumental in helping us reach today's outcome."

Osborne King also acted as property advisers on the deal.

This time last year, Mr Herbert ramped up his housebuilding business as he prepared to launch nearly 70 luxury homes in Belfast in an investment worth a total of £40m.

The businessman said at the time that he was expanding his residential developments due to higher demand.

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