Brands sells KFC business in Russia to Smart Service

Moscow, Apr 17 (Prensa Latina) American company Yum! Brands, one of the largest fast food chain operators in the world, has completed the sale of KFC restaurants in Russia to Izhevsk franchise owner Smart Service.

April 17, 2023
17:29

Yum! Brands completed its exit from the Russian market by selling its KFC business in Russia to local operator Smart Service.

The deal includes all KFC restaurants in Russia, the operating system, the main franchise rights and the trademark of Rostic. It was also noted that under the agreement, Smart Service agreed to be responsible for the rebranding of the restaurants as Rostic’s and the maintenance of the entire Russian team. In the first phase, the company will transfer more than 100 Russian KFC restaurants to the new brand.

In early March 2022, Yum! Brands announced the suspension of operations in Russia of 70 restaurants directly owned by KFC.

It is reported that after the signing of the agreement, Smart Service will own 70 restaurants and become a franchisee to 1,058 partner restaurants. At the same time, it was stated that both the chain’s own restaurants and its contracted restaurants will continue to operate under the Rostic’s brand.

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