Collins Foods exits Taco Bell business

It is in talks with Taco Bell International for the potential transfer of ownership of the business.

Collins Foods has announced its decision to exit its Taco Bell business, according to an ASX release.

The company is in talks with Taco Bell International to potentially transfer ownership of the business. It aims to complete the transition within the next 12 months, subject to formal terms being agreed.

Collins Foods says it will provide further updates, including estimated exit costs, as matters progress.

If a new operator cannot be identified and/or an agreement cannot be reached, alternative exit options will be explored.