KFC plans to invest £1.49 billion in the UK and Ireland, creating over 7,000 new jobs within the next five years.

The fried chicken chain stated its goal to become the “fastest growing restaurant brand for the next generation,” planning to open an additional 500 restaurants by 2035.

This will involve investing nearly £500 million in new restaurants and drive-through sites in “key locations,” including the North West of England.

A portion of this investment will go towards upgrading over 200 existing KFC restaurants-about 20% of its estate-with updated designs and new digital features.

Around £583 million will be invested to create thousands of new jobs across its restaurants and supply chain, including a new guest experience lead role focused on enhancing customer experience in its restaurants.

KFC launched its first UK restaurant in Preston in 1965 and now operates over 1,000 locations across the UK and Ireland, employing more than 30,000 people.

The expansion takes place amid a booming UK fried chicken market, currently valued at an estimated £3.1 billion.

The chain has experienced increased competition from smaller high-street chicken shops as well as major US brands. Since 2021, Popeyes has launched over 50 franchised locations in the UK, while the UK Wingstop franchise was sold to a US investment firm for £400 million last December.

Rob Swain, who became general manager of KFC UK & Ireland this year, said: “After 60 years serving UK customers, we’ve never witnessed demand for freshly prepared fried chicken like this before. As the market leader with nearly £2 billion in revenue, we’re well placed to seize this opportunity.”

Kate Nicholls, chief executive of UKHospitality, said: “Hospitality’s unique ability to create vibrant places to live, work, and invest is unmatched. KFC’s significant announcement is a testament to this and will promote socially productive growth, economic progress, and job creation throughout the UK.”