Collins Foods, the ASX-listed operator of hundreds of KFC outlets in Australia and Europe, will sell or close its Mexican-themed Taco Bell chain, which has struggled against the much larger Guzman y Gomez brand.
The company announced the change as part of a strategic review under new chief executive Xavier Simonet. As part of the review, Collins Food will expand its network of KFC stores more aggressively in Germany and write off more than $30 million of its business in the Netherlands.
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