Yum! Brands completed the sale of KFC in Russia
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American holding Yum! Brands announced the completion of the transaction for the sale of the Russian business of KFC to the Smart Service company of entrepreneurs Andrey Oskolkov and Konstantin Kotov. Thus, the company leaves the Russian market.
“The sale of Smart Service, announced in October 2022 and having received all necessary approvals from the US and Russian governments, includes all Russian KFC restaurants, the operating system, the rights to the main franchise and the trademark for the Rostic`s brand,” follows from the press release Yum! Brands.
Under the terms of the deal, Smart Service (a former local KFC franchisee) will leave the employees of Russian KFC restaurants and lead the process of rebranding all outlets of the chain. KFC restaurants in Russia will be renamed Rostic`s. The Unirest company, through which the Russian divisions of KFC worked, filed an application with Rospatent for the registration of the Rostic`s brand back in January.
The KFC chain came to Russia in 1993, having entered into a partnership agreement with Rosinter, and for a long time the chain restaurants worked under the banner of Rostik’s. An application for brand registration was submitted to Rospatent with the spelling in English – Rostic`s.
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