FAS allowed Almira LLC to purchase KFC restaurants from AmRest
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The Federal Antimonopoly Service (FAS) of Russia has approved the acquisition by Almira LLC of 214 franchised KFC restaurants, which are now owned by the European restaurant operator AmRest. On the agreement to sell the KFC business in Russia to Almira reported in December, the deal will be worth at least €100 million. The US Yum! Brands, which owns the KFC brand.
“The FAS approved the acquisition of 214 KFC franchise restaurants by Almira LLC,” RIA Novosti quotes an excerpt from the FAS message. According to the department, the deal will not affect competition in the catering markets.
As of June 2022, 1,058 KFC partner fast food restaurants were operating in the Russian Federation under the franchising system; at the end of November, the franchise for them was transferred from Yam Restaurants Russia to Smart Service Ltd, FAS reported. Now 214 of these restaurants are becoming the property of Almira.
In May, AmRest tried to sell its Russian subsidiary, which operates KFC and Pizza Hut restaurants in the country, to the VTB Capital investment fund, however, according to Kommersant, the deal broke due to sanctions against VTB.
About how Yum! Brands sells its business in the Russian Federation, read the publication “Kommersant” “KFC cuts wings”.
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