AmRest closed the deal to sell the Russian business of KFC – Kommersant
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AmRest holding, which managed KFC restaurants in Russia, closed the deal to sell the business to Smart Service Ltd. The deal amounted to €100 million, follows from the notice (.pdf) on the website of the Spanish National Commission for the Securities Market.
As part of the deal, the Russian company received about 215 KFC restaurants in Russia. Initially, AmRest planned to sell the restaurants to Almira LLC, but in February the holding signed agreement with Smart Service. In October 2022, the Russian company will also acquired 70 KFC restaurants and the brand’s master franchise from the American holding Yum! Brands. The new owner undertook to gradually rebrand all 1,000 KFC establishments in Russia into Rostic’s. April 25 in Moscow at the place of KFC opened the first Rostic’s.
About the difficulties in the implementation of the transaction – in the material “Kommersant FM” “Brand of Discord”.
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