Yum Brands has sold Pizza Hut's Russian franchise to Noi-M for $4.92M, according to Russian media.
Noi-M is reported to be linked to Russian restaurant group Rosinter, which operates the Russian franchises of Costa Coffee and T.G.I. Friday's.
Franchiser Amrest sold the Pizza Hut Russia business after Yum Brands (YUM) announced in March that it was pausing operations in Russia and transferring restaurants to local operators.
Looking ahead, Pizza Hut's 50 Russian stores are expected to see a major rebranding. The new owners have not yet decided on a name for the pizza chain.
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