Franchising

Yum Brands to exit Russia with sale of KFC

A KFC franchise in Krasnoyarsk, Russia. Photo by iStock.

October 25, 2022

Yum Brands Inc. will sell its KFC restaurants in Russia to a local operator, according to a press release.

Russian KFC franchisees Konstantin Yurievich Kotov and Andrey Eduardovich Oskolkov will take ownership of the Russian KFC franchises under the name Smart Service Ltd., and Yum Brands will fully exit Russia.

Kotov and Oskolkov will be responsible for rebranding the restaurants and will retain the right to keep current employees.

Yum Brands previously sold its Russian Pizza Hut units in Russia as well.