MOSCOW, Aug 8 International Restaurant Brands and co-owner of Smart Service set up a joint venture to develop the business and Rostic's brand, said Konstantin Kotov, co-owner of Smart Service.
According to the Unified State Register of Legal Entities, International Restaurant Brands, the largest KFC franchisee in Russia, has a new subsidiary, Fast Food Restaurants, in July 2023. Its main owner with a 50.1% share is International Restaurant Brands, and the remaining 49.9% belongs to Andrey Oskolkov, co-owner of Smart Service, which previously bought out KFC restaurants in Russia that belonged to the American corporation Yum! Brands.
«»The joint venture will develop the Rostic's business and brand. International Restaurant Brands confirmed their interest in further joint business development with Smart Service «, — Kotov told the agency through a representative.
Last year, Yum! Brands suspended the activities in Russia of 70 restaurants owned directly by KFC. The Izhevsk franchisee of the Smart Service Ltd chain acquired the Russian business of Yum! Restaurants. The assets that today belong to «Smart Service Ltd» is managed by Unirest — 66 restaurants under the Rostic's brand. In total, the chain of fast food restaurants includes more than 1100 establishments under the Rostic's and KFC brands, most of which are franchised.