Apollo Group expands to Norway, brings KFC to the country

TALLINN - Apollo Group is acquiring the Norwegian fast-food chain Fly Chicken, thereby bringing the KFC franchise to the Norwegian market for the first time.

Following the transaction, the company plans to convert most Fly Chicken restaurants into KFC restaurants and also open new locations in the country over the next five years.

Apollo Group operates a total of 38 KFC restaurants in the Baltics and Finland, and with the addition of Norway, this will become the company's fifth market. KFC has not been present in Norway until now.

According to Apollo Group CEO Toomas Tiivel, Norway is a natural next step for the company in its international expansion.

"Norway is a market with a strong economy and high purchasing power, where KFC has not operated before. Fly Chicken has built up a functional restaurant network and an experienced team, which will serve as a foundation for us to further develop the KFC brand in Norway. Over the next five years, we plan to invest approximately 20 million euros in the Norwegian market to convert the existing restaurants into KFCs and to open new locations," Tiivel said.

Fly Chicken was founded in 2018 and currently operates 19 restaurants across Norway. Last year, the company's turnover reached approximately 14 million euros.

After the transaction is completed, one of Fly Chicken's founders and its long-time CEO, Ronny Gjøse, will continue to manage the company.

"We have built Fly Chicken into Norway's leading crispy chicken restaurant chain. Behind this is a small and efficient team, well-thought-out work processes, and a desire not to compromise on quality. This transaction combines our experience in the Norwegian market and local expertise with Apollo Group's international experience, resources, and one of the world's most famous restaurant brands, KFC. I am proud of what we have created and look forward to the opportunity to develop it further with Apollo Group and KFC," said Gjøse.

The transaction will be carried out in cooperation with MM Group. Its completion is subject to the fulfillment of customary conditions and obtaining the necessary approvals.

Apollo Group, part of MM Grupp, was founded in 2000 and has grown into the largest entertainment and restaurant business in the Baltic States. In addition to the Baltics, the company also operates in Finland. The group includes Apollo Kino, Apollo bookstores, Blender, Ice Cafe, Vapiano, KFC, Lido, MySushi, CanCan, and Delano. The Apollo Club has over one million members.