Amrest

What Amrest does

AmRest Holdings SE is a Madrid-headquartered, Warsaw Stock Exchange-listed (WSE: EAT) international multi-brand restaurant operator founded in 1993. The company runs 2,129 restaurants across 22 countries in Central and Eastern Europe, Western Europe, China, and the Middle East through a workforce of 43,000+ employees, serving approximately 238 million customer transactions annually. Its portfolio is split between four global franchise brands (KFC, Starbucks, Pizza Hut, Burger King) — for which AmRest acts as master franchisee — and four proprietary concepts (La Tagliatella, Sushi Shop, Blue Frog, Bacoa), with Taco Bell being added in 2026.

The business operates a physical restaurant and franchise platform. AmRest directly runs company-owned restaurants, manages franchise relationships with global QSR/coffee franchisors, and licenses its proprietary brands to a network of more than 230 franchisees supported by AmRest's planning, digital tools, design, and supply chain capabilities. Approximately 62% of orders flow through digital channels (app, delivery, kiosk, online). There is no proprietary technology platform, public API, or AI/ML product described in available source material; the technology footprint is operational restaurant software rather than a standalone product.

Revenue is generated almost entirely through restaurant sales at company-operated units (FY 2025: ~EUR 2.6 billion; FY 2024: EUR 2,556.3 million, +5.1% YoY). Reported peak profitability was FY 2024 with EBITDA of EUR 430.4 million at a 16.8% margin, followed by margin compression to 15.9% in FY 2025 and 13.0% in Q1 2026 alongside a EUR 17.2 million net loss in the latest quarter. The company paid its first-ever dividend in 2024 (EUR 15.2 million). Recent strategic actions include the Pizza Hut France operational transfer to Yum! Brands in 2024, the 2023 SCM supply chain joint venture exit, and the 2026 Taco Bell Poland launch.

Name

Amrest

Legal name

AmRest Holdings SE

Website

https://amrest.eu

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

AmRest Holdings SE is a Madrid-headquartered, Warsaw Stock Exchange-listed multi-brand restaurant operator running 2,129 KFC, Starbucks, Pizza Hut, Burger King, La Tagliatella, Sushi Shop, Blue Frog, and Bacoa locations across 22 countries, serving individual consumers via dine-in, takeaway, and digital delivery.

Ownership category

akta.pro rank

Product category

Restaurant Operations

NAICS

Limited-Service Restaurants (722513), Caterers (722320)

SIC

Retail-Eating & Drinking Places (5810), Retail-Eating Places (5812)

akta.pro primary industry

Multi-Concept / Global QSR Chains (Mixed Menus) (THAFAAAO)

akta.pro secondary industries

Corporate Catering & Refreshment Services (HSACADAD), Corporate & Catering Online Ordering/Delivery (AFAIAMAK)

Keywords

• Multi-brand restaurant operator
• Fast food franchise operations
• Casual dining chains
• Restaurant franchise management
• Foodservice operations

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices13 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Restaurant sales (company-owned restaurants): AmRest generates the vast majority of revenue through sales at its company-owned restaurants operating under franchise brands (KFC, Starbucks, Pizza Hut, Burger King) and proprietary brands (La Tagliatella, Sushi Shop, Blue Frog, Bacoa). Revenue is driven by foot traffic, digital ordering, and delivery across 22 countries.
2. Franchise royalties and fees: AmRest serves as a franchisee, paying royalties and fees to global franchisors (KFC, Starbucks, Pizza Hut, Burger King) for the right to operate restaurants under their brands. For proprietary brands, AmRest also sells franchises to independent operators.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

AmRest is an international multi-brand restaurant operator that runs more than 2,129 company-owned restaurants across 22 countries under five global franchise brands (KFC, Starbucks, Pizza Hut, Burger King, and newly added Taco Bell) and four proprietary concepts (La Tagliatella, Sushi Shop, Blue Frog, Bacoa). It generates the majority of revenue through direct restaurant sales — including dine-in, takeaway, and delivery — while also licensing its proprietary brands to 230+ independent franchisees.

Product overview

AmRest is a multi-brand restaurant franchise operator operating a portfolio of 8 distinct brands across 22 countries with 2,129 restaurants. The company operates two categories of brands: Franchise Brands (KFC, Starbucks, Pizza Hut, Burger King, Taco Bell) and Proprietary Brands (La Tagliatella, Sushi Shop, Blue Frog, Bacoa). Franchise brands are licensed operations of global chains, while proprietary brands are company-developed concepts. The company generates revenue through restaurant sales, with approximately 238 million transactions annually and partnerships with 230+ franchisees. Geographic presence spans Central-Eastern Europe (Poland, Czech Republic, Hungary, Romania, Bulgaria, Serbia, Croatia, Slovakia), Western Europe (Spain, Germany, France), and China.

Differentiator

Problem solved

Functional benefit

Brands

• KFC: The world's most popular chicken restaurant chain, with a world famous secret recipe. With a cook in every restaurant, we freshly prepare delicious, affordable meals made to order.
• Starbucks
• Pizza Hut
• Burger King
• La Tagliatella
• Sushi Shop
• Blue Frog
• Bacoa

Products and services

• KFC The world's most popular chicken restaurant chain, operated by AmRest under franchise. Freshly prepared, affordable meals made to order with the brand's signature recipe, available across dine-in, takeaway, and delivery channels.
• Starbucks The world's largest coffee chain, operated by AmRest under franchise. Provides high-quality coffee and the brand's signature customer experience across dine-in, takeaway, and digital ordering channels.
• Pizza Hut One of the world's largest pizza chains, operated by AmRest under franchise. Iconic PAN dough pizzas, dine-in family restaurants, and delivery/takeaway across markets.
• Burger King The original 'Home of the Whopper', operated by AmRest under franchise. 100% beef flame-grilled burgers and family-friendly dining for over 60 years, available through dine-in, drive-thru, and delivery.
• La Tagliatella Proprietary traditional Italian cuisine restaurant chain, the largest of its kind in Spain. Operated by AmRest directly and via franchisees, focused on authenticity, quality ingredients, and origins.
• Sushi Shop European leader in creating and delivering sushi, operated by AmRest. Founded in 1998 by two French entrepreneurs; includes franchised locations, mass retail corners, and travel retail formats.
• Blue Frog Leading Western casual dining chain in China, operated by AmRest. Offers a contemporary American dining experience featuring grills, cocktails, and casual dining atmosphere.
• Bacoa Proprietary gourmet burger chain operated by AmRest. Hand-made burgers with high-quality local ingredients under the philosophy that real food tastes better.
• Taco Bell (Poland) Mexican-style fast food restaurant chain, newly added to AmRest's franchise portfolio for the Polish market through a partnership with Yum! Brands.
• Proprietary Brand Franchising Program Franchise offering that enables independent operators to run restaurants under AmRest's proprietary brand systems. Includes a support package covering planning, delivery solutions, digital tools, restaurant design and construction, and supply chain management. Currently spans more than 230 franchisees.

Quantifiable outcome

• 238 million transactions processed annually across 2,129 restaurants in 22 countries
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators14 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Restaurant Brands International: Global multi-brand QSR franchisor of Burger King, Tim Hortons, Popeyes, and Firehouse Subs. AmRest operates Burger King under RBI's franchise; RBI represents the same multi-brand QSR franchisor archetype at much larger scale.
• Darden Restaurants: Multi-brand full-service restaurant operator (Olive Garden, LongHorn, Cheddar's, Yard House, Capital Grille). Comparable at the multi-brand restaurant platform level, although Darden is full-service and US-focused rather than QSR-focused and European.
• Yum! Brands: Global franchisor of KFC, Pizza Hut, Taco Bell, and Habit Burger. Direct counterparty in AmRest's franchise relationships; controls the master franchise rights in markets AmRest operates, and recently took back Pizza Hut France. Materially comparable as the parent/franchisor counterpart to AmRest's largest revenue-driving brands.
• Domino's Pizza: Global pizza QSR franchisor with master-franchise structures worldwide. Comparable through Pizza Hut overlap and as a benchmark for QSR franchise economics, digital ordering penetration, and unit growth models.
• McDonald's Corporation: World's largest QSR franchisor with ~40,000 restaurants. Comparable as the benchmark multi-brand QSR franchisor model that AmRest pursues with its diversified portfolio of franchise brands.
• Starbucks Corporation: Global coffee chain and franchisor of the world's largest coffee brand. AmRest operates Starbucks stores under license across Central Europe; comparable as franchisor counterpart and as a coffee QSR benchmark.

Direct peers

• Inspire Brands: Multi-brand restaurant company operating Arby's, Buffalo Wild Wings, Sonic, Dunkin', Baskin-Robbins, and Jimmy John's. Closest direct peer in terms of being a multi-brand platform operator combining franchise rights with proprietary concepts at scale.
• Yum China Holdings: Largest restaurant operator in China, exclusive licensee of KFC and Pizza Hut in the market. Directly comparable as a multi-brand restaurant operator in Asia with overlapping brand portfolio and similar company-owned + franchise model.
• MTY Food Group: Canadian multi-brand restaurant franchisor and operator with 6,500+ locations across 40+ brands. Directly comparable as a multi-concept restaurant operator/franchisor with both franchise and proprietary concepts; smaller scale but same business model.

Emerging players

• Jubilant FoodWorks: Indian master franchisee of Domino's Pizza and Dunkin', operator of Hong's Kitchen and Ekdum!. Comparable as a publicly listed multi-brand franchise operator in an emerging market, with similar model of combining global franchise brands and proprietary food concepts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/amrest
• LinkedInlinkedin.com/company/amrest

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries21 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amrest