The largest KFC franchisee in Russia, the co-owner of International Restaurant Brands and Smart Service, formed a joint venture. He said Rostic will develop his business and brand DEA News Co-owner of Smart Service Konstantin Kotov.
According to the Unified State Register of Legal Entities, International Restaurant Brands has a new subsidiary in July 2023 – Fast Food Restaurants. International Restaurant Brands owns 50.1% of the subsidiary, while the remaining 49.9% is owned by Andrey Oskolkov, co-owner of Smart Service. It bought KFC restaurants previously owned by the American company Yum in Russia! brands
“The joint venture will develop Rostic’s business and brand. International Restaurant Brands confirmed its interest in developing further joint business with Smart Service, Kotov conveyed his comment to the agency through a representative.
On April 25, Rostic’s flagship restaurant opened near Mayakovskaya metro station in Moscow following the rebrand. It is planned to transfer about 100 KFC restaurants under this brand by the end of summer. On April 17, Yum! Brands, the owner of KFC restaurants, has completed its exit from the Russian market. The company has signed an agreement to sell KFC-related Russian assets to one of its local franchisees, the Smart Service company of Konstantin Kotov and Andrey Oskolkov. One of the terms of the deal is the rebranding of restaurants that have passed to the new owner. The deal included all Russian restaurants, the operating system, the main franchise rights and the trademark of the Rostic brand. Company, Yum! He “manages” the process of renaming KFC to Rostik’s, as well as brands in Russia. Thus, the brand familiar to Russians returns to the market after 17 years. Rostic operated in the country from 1993 to 2006.
Previously reportedThat KFC fast food chains in Moscow have started to change their names to Rostic’s.