Yum! Brands, the parent company of fried chicken chain Kentucky Fried Chicken (KFC), as well as McDonald’s, have announced the suspension of operations in Russia.
“This action builds on our decision to suspend all investment and restaurant development in Russia and redirect all profits from operations in Russia to humanitarian efforts,” said Yum! Brands in a press release.
Those humanitarian efforts, says Yum! Brands, include a US$1 million donation from the Yum! Brands Foundation to the Red Cross to support those affected by the crisis, activating the Yum! Disaster Relief Fund to support Ukrainian franchise employees, and matching donations from employees to various charities providing relief in Ukraine. “In addition, our franchisees in the surrounding regions are providing food for refugees,” said the company.
Yum! Brands is also finalising an agreement to suspend all Pizza Hut restaurant operations in Russia, in partnership with its master franchisee.
Yum! Brands reportedly has at least 1,000 KFC and 50 Pizza Hut locations in Russia that are nearly all independent franchisees. Some 70 KFC sites are company-owned restaurants.
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