The owner of KFC, the American holding Yum! Brands sells KFC restaurants and the brand's master franchise in Russia to local management, they will be opened under the Rostic's brand. This was reported by Kommersant and RIA Novosti, citing sources.
According to Kommersant, the buyer of the asset with an estimated value of 1.3 billion rubles was the structure of the Izhevsk franchisee of the Food Service Group of Companies Konstantin Kotov and Andrey Oskolkov. The new owner is obliged to gradually rebrand 1,000 KFC establishments in Russia into Rostic's.
In March Yum! Brands has suspended the operation of KFC restaurants in Russia and investments in the Russian market. In July, the corporation announced that it had found a buyer for the business, but his name was not disclosed.
After the start of the war in Ukraine, foreign business began to massively leave the Russian market, hundreds of companies in total left . Among them are Microsoft, Netflix, McDonald's, Johnson & Johnson, H&M and others. In October, one of the largest producers of dairy products in the world, the French company Danone, decided to leave the Russian market and transfer control of the company's Russian divisions to an unnamed owner.