Yum Brands says it’s about to sell its Russian KFC business
A woman walks past closed KFC and McDonald’s restaurants that have suspended their business in Russia due to the military invasion of Ukraine, April 16, 2022, in Moscow, Russia.
Konstantin Zavrazin | Getty Images
Yum Brands is close to selling its Russian KFC business as part of its plan to exit the country’s market, the company announced Tuesday.
The company said it plans to fully exit Russia once the KFC deal is complete. Since March, Yum has said it is redirecting any profits from its Russian operations to humanitarian efforts as it works to get out of the country. The restaurant company added that it had halted all investments and development of restaurants and its operations in the country.
The Russian Pizza Hut franchises, which are currently being rebranded, sold out in May.
Yum Brands, which also owns Taco Bell, first announced in March that it would suspend operations of KFC and Pizza Hut in Russia, when it activated the Disaster Relief Fund and made donations to the Red Cross, UNICEF, the World Food Program and the International Rescue Committee.
Yum is the latest Western restaurant operator to end operations in Russia after the Kremlin forces invaded Ukraine. McDonald’s sold its Russia locations to the current licensee in May.
Of the more than 54,000 locations Yum Brands owned worldwide, there were about 1,000 KFC locations and 50 Pizza Hut locations in Russia, most of which operate under franchise agreements.