Yum Brands sells its Russian KFC restaurants and withdraws from Russia

New stores need to find a new name

Yum Brands has reached an agreement with Russian company Smart Service, which is operated in Russia by existing KFC franchise owners Konstantin Yurievich Kotov and Andrey Eduardovich Oskolkov, the company said Monday. The sale transfers ownership of Yum’s 1,112 KFC restaurants, as well as its operating system and master franchise rights.
According to the press release, Smart Service will be responsible for renaming the stores and retaining all Yum employees in Russia. Once the deal closes, Yum will cease all operations in the country.
In June, Yum sold the operation of the Russian Pizza Hut to a local operator, who also had to rename the concept.
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