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Pizza Hut's Russian franchise bought by local operator -Kommersant

Published 06/07/2022, 04:03 AM
Updated 06/07/2022, 04:05 AM
© Reuters. The sign at a Pizza Hut location, which is owned by Yum Brands Inc, is pictured ahead of their company results in Pasadena, California U.S., July 11, 2016. REUTERS/Mario Anzuoni
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(Reuters) - Pizza Hut's Russian franchise has been bought by Noi-M for 300 million roubles ($4.92 million), Russian business daily Kommersant reported on Tuesday.

Noi-M is linked to Russian restaurant group Rosinter, which operates the Russian franchises of Costa Coffee and T.G.I. Friday's.

© Reuters. The sign at a Pizza Hut location, which is owned by Yum Brands Inc, is pictured ahead of their company results in Pasadena, California U.S., July 11, 2016. REUTERS/Mario Anzuoni

Pizza Hut's 50 Russian stores are to be rebranded, though the new owners have not yet decided on a name.

Franchiser Amrest sold the brand's Russia business after Pizza Hut owner Yum! Brands (NYSE:YUM) announced in March that it was pausing operations in Russia and transferring restaurants to local operators after Russia deployed troops to Ukraine.

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