KFC reportedly to resume operations in Türkiye with new partner

The fast food giant KFC has reportedly reached an agreement with a new partner to resume operations in Türkiye after abruptly ceasing them at the start of this year, according to a report on Tuesday.

KFC and Pizza Hut pulled out of the Turkish market after the former franchise operator of the brands, Iş Gıda, filed for bankruptcy in February.

It filed for bankruptcy a month after U.S.-based Yum! Brands terminated its franchise agreements with the Turkish company. Yum! Brands, the owner of KFC and Pizza Hut, announced the decision due to the alleged "failure" by Iş Gıda to maintain compliance with the Louisville, Kentucky-based company's "standards."

Both KFC and Pizza Hut combined operated over 500 restaurants across the country.

Since then, media reports hinted at the potential of reopening restaurants and operations, likely with a new partner.

Turkish daily newspaper Sabah, exclusively reported on Tuesday that KFC's search for a new partner, which it said "has been continuing uninterruptedly" since it ceased its operations in Türkiye at the beginning of this year, "has finally yielded results."

The report recalled that KFC, which came to Türkiye with Süzer Group in 1989, has always considered Türkiye as an important market. However, its local partner has changed several times since then, and it will continue its path with HD Holding, it said.

HD Holding is the owner of the HD Iskender and Pidem brands, popular domestic brands that offer the famous Iskender kebap and Turkish pide.

"Let's add that HD Holding also took on a fund company as an investor and reached an agreement with its partner," the report said.

The report also said that KFC wants to resume operations in Türkiye "as soon as possible," with its officials reportedly "still working hard to finalize the agreement."

Furthermore, it added that KFC's goal is to resume operations in Türkiye before the end of the year.

"How many restaurants this activity will start with will be determined by location selections and the speed of completing the lease agreements. According to the business plan currently being considered, KFC Türkiye will make an investment of $50 million in the first two years," it said.

Calculations are ongoing as to how many restaurants can be opened with these planned investments, the report said.