AmRest Aquasition Subsidiary, the subsidiary of AmRest Holdings which builds chain of KFC and Pizza Hut restaurants, signed agreement to merge with US Strategies. The latter is the main shareholder of Pizza Nord. The initial acquisition price will amount to USD 48m. Amrest will thus control Pizza Nord, the operator of 41 restaurants in Russia, including 22 Rostic-KFC and 19 Pizza Hut ones.
USD 26.4m will be paid in cash, and the rest in stock. The transaction should be concluded on July 1st. AmRest operates in Poland and the Czech Republic. It will soon launch operations in Hungary.