Jardine Matheson, a Singapore-listed conglomerate, is seeking to sell its KFC franchise business across the Asia-Pacific region, said two sources familiar with the situation.

The company has shifted its strategy to pursue a KFC‑only sale after receiving feedback from some potential buyers with stronger interest in the fried‑chicken business than in the broader Jardine Restaurant Group portfolio, the first source said.

Jardine Restaurant Group operates KFC and Pizza Hut franchises in several Asia‑Pacific markets, as well as self‑developed PHD pizza brand in Hong Kong. The group holds the KFC franchise rights in Hong Kong, Macau, Taiwan and Vietnam, according to its website.

Jardine Matheson initially considered a potential sale of Jardine Restaurant Group, the catering unit of its wholly owned subsidiary Jardine Pacific, as reported by Mergermarket in July 2025.

The seller has started discussions with prospective bidders and is preparing to attract further interest, mainly from strategic buyers, the first source added.

Hong Kong-listed Yum China has emerged as one of the potential bidders for the business, the sources said.

A Jardine Matheson spokesperson said the company does not comment on speculation or rumour. Yum China didn’t respond to request for comment.

Founded in 1973, Jardine Restaurant Group operates around 1,000 outlets and employs roughly 25,000 staff across Hong Kong, Macao, Myanmar, Taiwan and Vietnam. Jardine Restaurant Group earned an underlying net profit of USD 1m for the unaudited six months ended June 2025. It didn’t specify the profit for individual brands, as per its 1H25 results announcement.

Jardine Matheson, which has a market capitalization of USD 24.1bn, has been evaluating monetization options for assets across the group which could lead to non-core disposals. Gammon Construction was also flagged as a potential sale candidate, according to Mergermarket’s report in December 2025.

Jardine Matheson posted a net profit attributable to shareholders of USD 528m on revenue of USD 17bn for the unaudited first half of 2025, reversing a USD 40m loss a year earlier, as per its half-year results.