Thursday Jul 30, 2026
Thursday Jul 30, 2026
Thursday, 30 July 2026 05:47 - - {{hitsCtrl.values.hits}}
Top Sri Lankan blue-chip John Keells Holdings PLC (JKH) will open the first Wendy’s restaurant in Sri Lanka by December, marking the conglomerate’s re-entry into the country’s organised quick service restaurant (QSR) market as it expands its Consumer Foods portfolio.
Reviewing the Group’s first quarter performance for 2026/27, Chairman Krishan Balendra said the expansion would be undertaken through wholly owned subsidiary John Keells Restaurants Ltd., with franchise agreements and preliminary work already completed.
“The entry into the QSR segment reflects our confidence in the long-term growth potential of the organised QSR market and complements the existing consumer food portfolio by catering to different consumer segments and consumption occasions,” Balendra said.
He said the first Wendy’s outlet is scheduled to open by December 2026, followed by a phased rollout of additional restaurants. The initial equity investment is not material, with future expansion expected to be financed through a combination of debt and internally generated funds.
The move expands JKH’s presence in Sri Lanka’s consumer sector beyond beverages, confectionery, convenience foods, and supermarkets, as the Group seeks to tap changing consumption patterns and rising demand for organised dining formats.
Balendra said the Consumer Foods business continued to deliver growth during the quarter, with earnings supported primarily by the Beverages business, followed by Confectionery and Convenience Foods.
The Beverages business benefitted from a 27% increase in carbonated soft drink volumes, while higher sales improved operating leverage through better absorption of fixed costs. Confectionery volumes increased 13% across both single-serve and multi-serve products, although profitability was moderated by depreciation associated with new production equipment and higher promotional spending to support growth initiatives. The Convenience Foods business also recorded improved profitability on modest volume growth.
Wendy’s, founded in the US in 1969, is the world’s third-largest hamburger fast food chain by number of restaurants, operating thousands of outlets across more than 30 countries. Known for its square beef patties, the hamburger chain is accelerating its international expansion strategy in recent years, announcing plans to add up to 1,000 restaurants in China over the next decade alongside new market expansions in countries including Italy and the Philippines, as it seeks to diversify growth beyond its mature US market.
