Morgan & Morgan has advised Platinum Brands, S.A. (“PBSA”) on the acquisition of assets related to the operation of the Kentucky Fried Chicken (KFC) and Dairy Queen franchises in the Republic of Panama, previously owned by Franquicias Panameñas, S.A. (“FPSA”). As part of this transaction, PBSA has assumed the operation of over 70 fast-food restaurants, as well as the entire payroll associated with these establishments. The acquisition involved a complex structuring that allowed PBSA to assume the business assets and certain liabilities with suppliers, in strategic alliance with FPSA. Furthermore, Morgan & Morgan provided strategic counsel to Norbrook Equity Partners in structuring and finalizing two secured credit facilities, which were instrumental in financing a portion of the purchase price.


PBSA has expressed its excitement for the opportunity to lead the growth of these iconic franchises in Panama through significant investment. The plans include the renovations of existing restaurants, modernizing their facilities, and enhancing the customer experience. Additionally, PBSA aims to open new establishments in various strategic locations throughout the country, which will not only expand the presence of KFC and Dairy Queen but also create new employment opportunities and economic development in local communities.


This substantial investment reflects PBSA’s commitment to innovation and quality, ensuring that the franchises continue to be leaders in the fast-food market in Panama. The collaboration with FPSA as minority partners further strengthens this initiative, bringing their local knowledge and expertise to the projected growth.


PBSA is a subsidiary of Norbrook Equity Partners, an investment holding company based in Jamaica, which operates various companies in the Caribbean and now in Central America. With a proven track record of creating value through exceptional and enhanced growth strategies, Norbrook Equity Partners is well-positioned to drive the continued success of these franchises in the region.


The Morgan & Morgan team advising PBSA and Norbrook Equity Partners on this transaction included Francisco Arias, Lead Partner to the transaction; Aristides Anguizola, Partner; Miguel Arias Mamais, International Associate; and María Eugenia Brenes and Ariana Linares, both Associates. José Rafael Reyes provided tax advisory services, while Ricardo Alemán, Milagros Caballero and Yaneth Barrera provided labor law advisory services.