KFC franchisee KBP Foods expands manager ownership

Seven senior managers at Overland Park-based KFC franchisee KBP Foods LLC have acquired ownership in a buyout announced Monday.

KBP Foods owns 227 KFC, Taco Bell and Long John Silver’s restaurants in 10 Midwestern and Southeastern states, including 18 in the Kansas City area.

The transaction involved the sale of ownership held by equity partners from a 2011 transaction. They became part owners after chairman and chief executive Michael Kulp led a buyout of his two partners when the company was called Zancanelli Management.

In what the company called a management buyout, the seven managers and three new institutional investors became owners.

Kulp said the three investors own a minority stake in KBP Foods. He did not disclose the terms of the transaction.

The group employs about 5,000, including 15 at its headquarters and roughly 360 at its area stores.

This story was originally published April 27, 2015 at 11:41 AM with the headline "KFC franchisee KBP Foods expands manager ownership."