KFC

Yum Brands has announced that it is in the advanced stages of transferring ownership of its KFC restaurants, operating system and master franchise rights in ...

According to a Reuters report, Yum Brands first opened KFC in Russia in 1995. The brand's total in Russia has reached about 1,000 restaurants. Yum Brands has announced that it is in the advanced stages of transferring ownership of its KFC restaurants, operating system and master franchise rights in Russia to a local operator.

The American company plans to fully exit the Russian market after selling the brand to a local buyer.

The chain was reopened in June under the name Vkusno-i Tochka (Tasty- Period). Yum Brands Inc suspended all operations and investments in Russia in March following the Kremlin’s invasion of Ukraine. One of the world's largest restaurant companies, Yum Brands Inc, announced Tuesday it is “in advanced talks” to sell its KFC restaurants and franchise in Russia.

The company sold its Pizza Hut franchises in May. Yum Brands said that once the KFC transaction is complete, the company will exit Russia completely.

Since March, Yum said it has been redirecting any profits from its Russian operations to humanitarian efforts as it works to exit the country. The restaurant company added it is stopping all investment, restaurant development and operations in the country. - Yum Brands said that once the KFC transaction is complete, the company will exit Russia completely.

Company completed transfer of Pizza Hut franchise ownership to a local operator in Russia last month - Anadolu Agency.

Following completion of the KFC transaction, Yum! Brands intends to fully exit from Russia," it said in a statement. Yum! Brands said it completed last month the transfer of its ownership of all Pizza Hut franchise assets to a local operator in Russia. The US-based global fast-food company said it is in the advanced stages of transferring ownership of KFC restaurants, operating system, and master franchise rights, including the network of franchised restaurants, to a local operator.

The decision to sell the KFC business in Russia comes after just last month, the company announced that it is traferring the ownership rights of all Pizza ...

Last month, the American fast-food brand McDonald's chain handed over the operations to company Sistema PBO as it exited the country. The decision to sell the KFC business in Russia comes after just last month, the company announced that it is transferring the ownership rights of all Pizza Hut franchises to a local Russian operator. The company also informed that it halted all investment, and restaurant development in at least 1,000 KFC locations in Russia back in March, including at the 50 Pizza Hut outlets.

Amid growing concerns about the Russia-Ukraine conflict, Yum! Brands (YUM) is close to exiting its KFC business from Russia and is on the verge of ...

Yum! Brands’ operations in Russia span over 25 years, with more than 1,000 outlets operated by independent owners under license or franchise agreements. Headquartered in Kentucky, Yum! Brands, Inc. is an American fast food company that operates, franchises, and licenses quick-service restaurants worldwide. The new law could also empower it to seize the local assets and sue MNCs for penalties.