Former KFC restaurants in Russia will reopen as Rostic’s on Tuesday to revive the Russian brand born after the collapse of the USSR. The brand was created in the 1990s when Russia transitioned from communism to capitalism.
Yum!, KFC’s parent company, finalised its exit from Russia last week and transferred master franchise rights to Smart Service, a Russian local franchise led by Konstantin Kotov and Andrey Oskolkov.
The price was not disclosed, however, the deal included all of the Russian KFC restaurants, as well as the operating system and the trademark for the Rostic’s brand.
KFC first partnered with Rostic’s in 2005, to buy it out later on.
KFC had over 1,000 restaurants in Russia before Yum! Brands announced the plans to exit amid the Russian attack on Ukraine.
