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City news, 14.12.2004 14:06

Fast Food Expansion

Pizza-Nord Pizza-Nord plans to open seven new KFC restaurants and several more Pizza Huts in St. Petersburg next year, the company statement said Thursday.

An average cost of a fast-food restaurant in a shopping center is about $500,000-700,000 while a detached property location costs about $1 million.

Pizza Hut development will depend on the market situation in the segment and the policy of other players, said the company's general director Vladislav Ivanov, Interfax reported.

The company strategy provides for anywhere between two to six new Pizza Hut's next year.

Pizza-Nord has been the managing company for Pizza Hut and KFC franchises in Russia since 1994, when it signed an agreement with the brand-owner Yum Brands Inc.

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(c) 2000