Sberbank Became a Co-owner of KFC in Russia
OREANDA-NEWS Sberbank through its structure, Sberbank Investments LLC became the owner of 9.99% of Hey Kay restaurants Russia LLC, which is part of the Shokoladnitsa group of companies and since 2014 is one of the Russian franchisees of fast food restaurants KFC (Kentucky Fried Chicken) and Pizza Hut. The amount of the transaction is not called. It is noted that the proceeds will go to the development of the KFC network in Russia. "Restaurants Rush" is developing in Russia KFC, as well as a network of pizza Hut pizzerias on the rights of the franchisee operator, paying a fee to the right holder (franchisor) for the opportunity to use its brand and business model.
At the beginning of 2019, there are 744 KFC restaurants in Russia. The remuneration of the franchisor is 11 percent of revenue.
"Joining the capital is part of the comprehensive financing of the KFC restaurant chain development," explained in the press service of Sberbank.
It is noted that the remaining share (90,01%) in "Restaurants Rush" still belongs to the Cypriot Lerondale Assets Limited, but since mid-February is pledged to the "daughter" of Sberbank.
CEO Alexey Chizhov did not name the amount of the transaction. He noted that the invested funds will be directed to the development of the KFC restaurant chain. In particular, the company plans to increase the number of its restaurants in Moscow and the Central Federal district to 100 (now there are 30).
KFC brand belongs to the American Yum! brands. In total, there are more than 744 KFC restaurants in Russia, of which about 50 belong to the Russian LLC "Yam restaurants rush". The rest are opened by franchise partners.
Recall that in early March, the company Yum! Brands Russia plans to open Sanders Grill in Moscow, the menu of which will be based on grilled chicken.