AmRest finalizes franchise agreement with Pizza Hut Europe

AmRest finalized a franchise agreement with Pizza Hut Europe, giving AmRest the rights of a master-franchisee for the Pizza Hut brand in Russia, Azerbaijan, and Armenia. AmRest wants to open over 200 Pizza Hut restaurants on the Russian market within five years. The franchise agreement was concluded for 10 years with the possibility of extension. AmRest also said it signed an asset purchase agreement between Pizza Company (a subsidiary of AmRest) and Yum Restaurants International Russia and CIS. Under the agreement, Pizza Company will acquire assets, which are currently used to run 16 Pizza Hut Express and Pizza Hut Delivery restaurants in Moscow.