Kommersant learned about an attempt by a KFC franchisee to sell a business in Russia

The main franchisee of KFC and Pizza Hut, AmRest, announced the suspension of activities in RUSSIA in early March.Kommersant learned about an unsuccessful attempt to sell the business to VTB Capital due to Western sanctions

The restaurant holding AmRest, founded in Poland, was unable to sell its Russian division, which manages 267 KFC and Pizza Hut establishments, to the VTB Capital investment fund. This was reported by Kommersant, citing sources close to the negotiations.

According to the newspaper, the deal, discussed even before the start of Russia's military operation in Ukraine, fell through due to Western sanctions imposed on VTB. Now the company is looking for a new applicant for business, one of the restaurateurs of St. Petersburg, who received an offer to purchase, told Kommersant.

See also Shoigu 02:14

AmRest is one of the largest restaurant holdings in Europe, founded in Poland, in 2017 the headquarters was transferred to Spain. In Russia, it operates 267 establishments under the KFC and Pizza Hut brands.

AmRest (Yum! Brands) announced on March 9 that it was launching the process of temporarily suspending the company's activities in Russia. At the same time, the company's establishments are still working, said a Kommersant source close to the holding. At the end of 2021, there were 1,086 KFC restaurants and 50 Pizza Hut restaurants in Russia, most of which are open to franchisees.

According to the CEO of Infoline-Analytics Mikhail Burmistrov, the AmRest business in Russia at the beginning of 2022 could cost 5-6 billion rubles. However, due to the crisis, this amount decreased by 30%, and taking into account the risks of withdrawing the franchise, by 50%, he said.

Yum! Brands decided to suspend the work of some KFC restaurants in Russia Business

Read on RBC Pro Pro x The Economist Why economists and ordinary people estimate inflation differently ArticlesPro EconomyCHINAfalls, but the authorities deny everything. Is a crisis possible in China? Articles Pro The ghost of a checkered bag:

Since the beginning of the military operation in Ukraine, many foreign companies, including those in the catering sector, have announced their withdrawal or suspension of activities in Russia. McDonald's, in particular, decided to close all 850 restaurants in Russia. Only a few franchised establishments continue to operate.

Among other popular fast food establishments, Papa John's also announced the suspension of operations in Russia on March 9, but all of its 186 restaurants in Russia are owned by franchisees and will be able to continue operating, Papa John's Russia founder Christopher Wynn said. DP Eurasia, which operates the franchise chain of American pizzerias Domino's Pizza in Russia, also announced on March 11 that 188 of the chain's restaurants continue to operate.

At the same time, Burger King said that the company will not close restaurants in Russia and plans to open new ones.

.fotorama1651830033935 .fotorama__nav--thumbs .fotorama__nav__frame{ padding:5px; height:75px} .fotorama1651830033935 .fotorama__thumb-border{ height:75px; border-width:0px; margin-top:5px}

Favorable course inFavorable exchange rate at VTB officesThe larger the amount, the greater the benefit.More than 1,000 branches across the countryPreliminary calculation inonline converter