Panama’s quick-service restaurant scene is about to witness a major growth spurt, with Platinum Brands, S.A.—a subsidiary of Norbrook Equity Partners Limited—launching 12 new KFC outlets nationwide, a project valued at over US$15 million.
Platinum Brands, S.A., established as a special purpose vehicle to acquire KFC and Dairy Queen operations in Panama in mid-2024, is now executing an aggressive expansion strategy after successfully integrating the businesses. The move will increase KFC’s presence from 46 to 58 locations, while plans are underway to grow the combined KFC and Dairy Queen network to 100 locations by 2028.
“This isn’t just about opening stores,” said Khary Robinson, founder and executive chairman of Norbrook Equity Partners and Platinum Brands. “We focused first on strengthening the fundamentals—enhancing infrastructure, processes, and leadership—so that every new location is built on a solid foundation.”
Recent openings in Chorrera Center, David Center, and Algarrobos have already seen strong foot traffic and promising sales, signaling that the strategy is yielding results. CEO Juan Carlos Andrade and CFO Christian Sturla have been instrumental in this turnaround, implementing operational upgrades, improving service culture, and building leadership capacity at every level of the business.
“The foundation had to come first,” Andrade commented. “We invested in faster service, consistent quality, and modernized store aesthetics. With these pillars in place, growth becomes both sustainable and measurable.”
The expansion is supported through a mix of equity and debt financing, including a US$3 million tranche from JMMB Bank (Jamaica) Limited, with additional backing from BAC International Corporation. Ownership of Platinum Brands is held by Norbrook Restaurant Holdings Limited (60%), Sygnus Deneb Investments Limited (20%), and smaller stakes split between the Henriquez family and FirstRock Global Holdings Limited.
Platinum Brands’ initiatives in Panama form part of a broader pattern of Norbrook Equity Partners’ regional investments. Across the Caribbean and Central America, the group has revitalized ice and water producer Pure National Limited, acquired a majority stake in California-based Pilates studio chain Mighty Pilates, and facilitated strategic divestments, such as Grupo Frontera’s sale of its interest in Grupo Alaska.
Norbrook’s publicly listed arm, Mailpac Group Limited, has also posted strong growth following the acquisition of MyCart Quick Limited, achieving a 25% revenue increase in its most recent nine-month period. The company plans a shareholder meeting to approve new share issuances and a rebranding initiative tied to the acquisition.
As Platinum Brands pushes forward, the combined KFC and Dairy Queen franchises in Panama are positioning themselves as benchmarks in operational efficiency and customer experience, underscoring the group’s commitment to growth built on a foundation of strong fundamentals.
