Pizza Hut has signalled full steam ahead, with the first of more than 50 Eagle Boys stores switching to Pizza Hut officially opening in Sydney’s northern beaches yesterday.
The well below market leader Domino’s, which has more than 600.
Pizza Hut Australia chief executive Lisa Ransom said franchise agreements have been signed with just over 50 of the 100 Eagle Boys outlets still in operation.
“We will continue to try to expand that number moving forward,” Ransom said.
The amount paid by Pizza Hut has not been disclosed.
Pizza Hut hopes to have about half of its Eagles Boys stores operating under the Pizza Hut brand by Christmas, with the rest to follow by the end of the first quarter of 2017.
Eagle Boys franchisees who have not signed agreements with Pizza Hut will continue to trade.
“They will continue to trade as Eagle Boys for the next few months, and we will support them in that,” Ransom said.
“Over that period of time we will also work with them to see if there are any additional opportunities to bring over more under the Pizza Hut brand.”
Eagle Boys went into voluntary administration in July and closed all of its corporate-owned stores as it succumbed to financial troubles amid fierce competition in the takeaway pizza industry.