AmRest, through its subsidiaries AmRest Sp. and AmRest Acquisition Limited, has signed an agreement with Almira OOO for the sale of its KFC restaurant business in Russia, according to a statement sent to the CNMV on Tuesday night.
“The closing of the transaction is subject to authorization by the Russian competition authority, to the consent of Yum!
Brands (owner of the brand) and other regulatory authorizations that may be applicable”, says the company.
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The owners of La Tagliatella suffer after setting foot outside of Russia
The Mexican capital group that owns La Tagliatella expects to receive a minimum of one hundred million euros for the transfer of its restaurants in that country.
It is the culmination of an exit process that began before the summer, when its master franchise agreement with Pizza Hut in Russia ended, through which it transferred 49 establishments to an external operator decided by Yum!.
In an interview given last week to EL PAÍS, the executive president of Amrest, José Parés, admitted that they were analyzing all the options to leave the Russian market, where at the beginning of the year they decided not to make any more investments after the start of the war in Ukraine.
"The final terms of the operation, which are subject to certain external factors, including exchange rates, will be communicated if the operation is closed," the group says.
The company, which is listed on the Polish and Spanish stock markets, presented its figures for the third quarter a few weeks ago: in the first nine months of the year its sales grew by 28%, to 1,770 million euros.
The company has 2,389 fast food outlets in 23 countries.
It has the franchise rights for several states of Burger King, Starbucks, KFC and Pizza Hut.
It also operates, as main franchisee, some Pizza Hut Express and Pizza Hut Delivery restaurants in Central and Eastern Europe.
In addition to La Tagliatella, it has other own brands, Bacoa and Sushi Shop.