KFC to sell its business in Russia
Yum! The brands that own KFC and Pizza Hut are in talks to sell their Russian KFC restaurants to local operators. Reported by RIA Novosti.
Following the agreement, the company plans to withdraw from the Russian market. The names of potential buyers are not yet known. Negotiations to transfer ownership and franchise rights of Russian restaurants to a local operator are at an “advanced stage”, the company said in a statement.
Yum! The brands also suspended all investments in Russia and ceased operations in their own restaurants.
– told reporters in the press service of the company.
In March, KFC announced its intention to suspend work in Russia due to the Russian Federation’s military special operation in Ukraine.
Source: Spletnik
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