A woman walks past the closed KFC and McDonald’s restaurants that suspended their business in Russia due to Ukraine’s military offensive on April 16, 2022 in Moscow, Russia.
Konstantin Zavrazin | Getty Images
Yum Brands The company is close to selling its Russian KFC business, as part of its ongoing effort to exit the country’s market. announced Tuesday,
Yum plans to exit Russia entirely after the KFC transaction is completed, and has said it will redirect any profits from its Russian operations to humanitarian efforts.
Yum sold its Russian Pizza Hut franchises in May, which are currently being rebranded.
The company said this latest transaction is another step in Yum’s process to halt investment, restaurant development and operations in Russia.
restaurant company, which also owns Taco Bell, first announced That it would suspend operations of KFC and Pizza Hut in Russia in March after it activated a disaster relief fund and donated to the Red Cross, UNICEF, the World Food Program and the International Rescue Committee.
Yum is the latest Western restaurant operator to shut down its Russian operations after Kremlin forces launched an unprovoked invasion of Ukraine in March. McDonald’s sold its Russian locations to an existing licensee in May,
Out of over 54,000 Yum Brands chains worldwide, about the company Russia has 50 Pizza Hut locations and 1,000 KFC locations, most of which operate under franchise agreements.