MOSCOW, April 17 The American company Yum! Brands, one of the world's largest fast food chain operators, has completed the sale of KFC restaurants in Russia to Izhevsk franchisee Smart Service, according to a press release from Yum! Brands.
«Yum! Brands has completed its exit from the Russian market by selling its KFC business in Russia to local operator Smart Service,» the statement said.
The deal includes all KFC restaurants in Russia, the operating system, master franchise rights, and trademark brand Rostic's.It is also noted that under the agreement, «Smart Service» agreed to be responsible for the rebranding of restaurants on Rostic's, as well as maintaining jobs for the entire Russian team. At the initial stage, the company will transfer more than 100 Russian KFC restaurants to the new brand.< br />
In early March 2022, Yum! Brands announced the suspension of activities in Russia of 70 restaurants owned directly by KFC. At the end of November, the Federal Antimonopoly Service granted the application of the Izhevsk franchisee of KFC, LLC Smart Service Ltd, to acquire the Russian business of Yum! Restaurants. It was reported that after the deal was concluded, Smart Service would own 70 restaurants and become a franchisor for 1,058 partner restaurants. At the same time, it was specified that both the chain's own restaurants and partner restaurants would continue to operate under the Rostic's brand.
Yum! Brands was founded in 1997 and is headquartered in Louisville, Kentucky, USA. In total, Yum! Brands has over 55,000 restaurants in over 155 countries. The company's international brands are KFC, Pizza Hut and Taco Bell.