Breaking News
Krishani
Krishani
Nov 09 2026
12John Keells Holdings (JKH) will open Sri Lanka’s first Wendy’s outlet by the end of this month, slightly ahead of the December timeline it flagged in July, with a second restaurant following in January and a longer-term target of 8 to 10 new outlets a year, the conglomerate’s top management said.
Speaking at the group’s investor webinar last week, JKH Deputy Chairperson and Group Finance Director Gihan Cooray noted that the first outlet was due to open within a couple of weeks, with a pipeline of further restaurants to follow.
“We’ll definitely look to open two outlets before the end of this financial year or maybe a third, and we’re largely on track to do that,” Cooray remarked.
JKH’s interim financial statements for the September quarter, filed with the Colombo Stock Exchange, place the second opening in January 2027 and state that operational and marketing preparations for the launch are progressing well. Cooray also confirmed that the franchise carries a minimum outlet requirement, although he did not disclose the number.
“Yes, there is a minimum number of outlets that we have to open, but that’s over a five-year period where there are certain commitments and we are quite confident that that can be achieved,” he added.
JKH expects the rollout to gather pace after the launch phase. At its first-quarter webinar in July, management said the business could open “about eight to 10 stores annually. Maybe more,” banking on growth in the quick service restaurant (QSR) segment as disposable incomes and consumption pick up.
The restaurants will be operated by John Keells Restaurants (Private) Limited, a wholly owned subsidiary incorporated in 2025. JKH has described the equity investment in the business as not material, with future expansion to be funded through a mix of debt and internally generated funds.
Wendy’s, the US burger chain founded in 1969, marks JKH’s entry into the QSR segment and extends a consumer foods portfolio spanning Elephant House beverages, confectionery and Keells Krest convenience foods. The Consumer Foods industry group’s EBITDA rose 17 percent to Rs.2.00 billion in the September quarter from Rs.1.71 billion a year earlier, as carbonated soft drink volumes grew 10 percent and confectionery volumes 7 percent.
Meanwhile, JKH dismissed concerns that the restaurant push would come at the expense of its supermarket expansion.
“Wendy’s is a QSR, so that will have its own sort of customer base in terms of people dining out,” management noted in July, adding that the Keells chain would continue to add 10 to 15 supermarkets a year.
However, the network grew by just one outlet during the September quarter to 151, and by nine over the past 12 months, short of that annual pace.
