FAS approved the sale of KFC franchise restaurants owned by Amrest
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The Federal Antimonopoly Service (FAS) has agreed on the acquisition by Almira of 214 franchised KFC restaurants owned by Amrest, the agency’s press service reports.
The report says that in total, as of June 2022, 1,058 KFC partner fast food restaurants operated under this brand under the franchising system in Russia. 214 of these restaurants are owned by Amrest.
“As a result of the transaction, they will become the property of the Almira company, which will determine the conditions for carrying out business activities in relation to these restaurants,” the department noted.
On October 24, 2022, the American corporation Yum! Brands said it was selling 70 locations in Russia to a local operator. About Yum! Brands to transfer KFC restaurants to local management became known in early July. Prior to this, the company similarly sold the Russian assets of the Pizza Hut franchise to a local operator. In August, the company’s press service reported that restaurant chains in the Russian Federation would be renamed.
In November, the Federal Antimonopoly Service allowed the Izhevsk company Smart Service Ltd to buy the Russian business of Yum! Restaurants operating under the KFC brand. It was noted that following the transaction, the company will receive 70 restaurants and become a franchisor for 1,058 partner outlets. Following the deal, they will continue to operate under the Rostic’s brand. The FAS believes that the deal will save jobs, as well as ensure the company’s continued operation in Russia.
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