KEY POINTS:
Today
Restaurant Brands announces an unaudited profit of $6.5 million for the year to February 2007 - 47 per cent down on the previous year. The poor result is blamed on the Pizza Hut operations.
The company also says the potential sale of the company has come to nothing with no formal offers on the table.
March 2007
Vicki Salmon departs the chief executive role.
Rumours persist that Salmon was keen to quickly progress the sale to one of the three potential buyers, while the rest of the board wanted to explore other avenues. Van Arkel dismisses the talk as ludicrous.
Van Arkel confirmed the company is in talks with three parties - one a trade buyer linked to private equity and one a private equity company acting on its own.
November 2006
Restaurant Brands confirms it has been approached by parties interested in taking a stake in the company.
September 2006
Restaurant Brands renews the KFC and Pizza Hut franchises, signing a ten-year deal with franchisor Yum Brands, seven months before they were to run out. Doing so secures two brands that make up 92 per cent of the Restaurant Brands business.
July 2006
Bill Falconer steps down as chairman, a position he held since the company floated in 1997.
April 2006
Loss making Pizza Hut chain in Victoria, Australia, is put up for sale. The exit from Australia was expected to cost the company $9 million.
October 2005
Australia's Pacific Equity Partners Managing director Simon Pillar confirms it had been running its eye over Restaurant Brands.
Private equity company CVC Asia Pacific makes an offer of $1.65 a share in June 2005 but withdraws it in October, in part over pending renewal of rights for some KFC restaurants.
The global rights to the KFC, Pizza Hut and Starbucks Coffee brands are owned by US-based Yum! Brands.
Restaurant Brands is dropped from the NZX50 index into the NZX Small Cap index.
September 2004
Former supermarket executive, Ted van Arkel, appointed as an independent director.
May 2004
The company receives a takeover notice from unknown company King Win Laurel International, but recommended that shareholders take no action because it believed the offer did not comply with the Takeovers Code.
King Win Laurel had a registered office in Mt Roskill and 60 per cent owned by Kingwin Holdings of Harley St, London, and 40 per cent by Ying Wang of Blockhouse Bay.
December 2003
Salmon officially replaces predecessor, Jim Collier. Salmon moved from board director to acting chief executive on Collier's departure four months earlier.
March 2002
Buys bankrupt Pizza Hutt outlets in Victoria, Australia.
May 2000
Pizza Hut pays $28.3 million for the New Zealand arm of the Eagle Boys pizza chain.
The company floated at $2.20 in May 1997 with shares more than three times oversubscribed.
- NZ HERALD STAFF
