Yum! Brands closes sale of its Russian KFC chain to Smart Service - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Yum! Brands closes sale of its Russian KFC chain to Smart Service

MOSCOW, Apr 17 (PRIME) -- U.S. company Yum! Brands has closed the sale of its KFC restaurant chain in Russia to Izhevsk-based franchisee Smart Service, Yum! Brands said in a statement on Monday.

The deal includes all the companyТs KFC restaurants, an operating system, the master franchisee rights, and the RosticТs brandТs trademark. Smart Service also undertook a liability to rebrand the chain into RosticТs and keep jobs of the Russian employees.

In March 2022, Yum! Brands suspended operations of the 70 Russian KFC restaurants it owns directly. In November 2022, the Federal Antimonopoly Service approved an application of one of the companyТs franchisees, Smart Service, on acquisition of the restaurants. Under the deal, Smart Service will own the 70 restaurants and become the franchiser of 1,058 partnership restaurants, with all the restaurants working under the RosticТs brand.


17.04.2023 19:07
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 104.3024 +0.2403 05 oct
USD 99.4555 +0.1878 05 oct
Stock Market Indices
1D 1W 1M 1Y
micex 3154.97 +0.35 18:50 05 oct
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 165.50 -0.75 18:27 04 oct
lkoh 6740.00 -0.21 18:27 04 oct
rosn 543.10 +0.78 18:27 04 oct
sber 258.85 -0.31 18:27 04 oct
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 104.1000 +0.3475 14:59 04 oct
USDTD 99.6875 +0.4300 17:44 04 oct