AmRest, a listed company running KFC, Pizza Hut or Starbucks restaurants in Central and Eastern Europe, signed an unbinding, preliminary memorandum with an Arab firm Kuwait Food Company (Americana) concerning a joint venture in Ukraine. The new company would develop Rostik/KFC and Pizza Hut restaurants there.
“Americana runs nearly 900 restaurants, including KFC and Pizza Hut brands in the Middle East and countries like Kazakhstan. Cooperation with such an experienced partner in Ukraine which is a difficult market will be a great support to AmRest, including risk and costs diversification”, Anna Robotycka representing AmRest said.
Both parties are to acquire 50 percent of the Ukrainian company. A local partner may optionally buy up to 10 percent of the shares.
AmRest wanted to develop its business in Ukraine in 2005. However, the company withdrew from these plans. Then, it wanted to acquire Kroshka Kartoshka company but gave up after due diligence. On the other hand, AmRest has been present in Russia since 2007.
The restaurant operator has 185 KFC restaurants in Poland, Bulgaria, Russia,
the Czech Republic, Serbia and Hungary, 104 Applebee’s restaurants in the USA,
79 Pizza Huts in Poland, Russia and Hungary, 8 Burger Kings in Poland and
Bulgaria, 7 Freshpoints in Poland, 5 Starbucks Coffees in the Czech Republic and
4 Rodeo Drive restaurants in Poland and the Czech Republic.