IBERSOL Annual Report 2018

The Year of 2018 KEY EVENTS Last year’s activity was marked by the international arrangement reached between Pizza Hut and Telepizza in May and approved at the end of the year by the directorate-general of the Euroepan Commis- sion, although the effects will only really be felt over the coming years. This was followed by the opening of the Ibergourmet meal production plant in Vila do Conde, and the signing of two tax-benefit contracts with the State, representing an investment of 42.5 million euros and the creation of 926 jobs. In July Burger King and Ibersol signed an agreement for the open- ing of new restaurants. The Group already owns 80 of the 100 Burger Kings in Portugal, making it the most important and relevant of the brand’s franchisees. This agreement is to open 40 new restaurants and remodel over 30 and is renewable for a further three years. According to the expansion and portfolio evaluation strategy, the Group opened several restaurants from Pizza Hut, Burger King, KFC, Pans and Ribs, in Portugal and in Spain. 22