Polish restaurant holding AmRest Group announced that it will become the controlling owner of bakeries “Khleb Nasuschny” (Le pain quotidien) and “Filippov”. Together with the current owner of the company (LPQ Russia), they will create a new structure that will manage these bakeries. The parties plan to close the deal by June 2018.
The Polish company hopes that the partnership will allow it to enter a new format (bakeries), to expand the range and thus to increase audience. This will strengthen the position of AmRest in Russia, as expressed in company message.
AmRest with a market capitalization of over 2.5 billion euros calls itself the largest restaurant holding company in Central Europe: at the end of 2017, the company has developed franchise of 1638 establishments, including eateries and cafes KFC, Pizza Hut, Burger King, Starbucks, in 16 countries of Europe and Asia, including Poland, the Czech Republic, Germany, China. Its revenue for the nine months of 2017 – 877.3 million euros, net profit – 33.1 million, according to IFRS.
In Russia, which accounts for over 11% of AmRest’s revenue, the holding manages 154 KFC snack bars and 11 Pizza Hut pizzerias, the company’s website says. This is one of the largest partners of KFC in Russia, said the representative of “Yam Restaurants Russia LLC” – the Russian division of Yum! Brands (owner of brands KFC and Pizza Hut) and the holder of the master franchise in Russia and CIS countries.
The first “Khleb Nasuschny” appeared in 2007 in Moscow. This network, together with the bakeries “Filippov” was develops by british company LPQ Russia. Now in Moscow and St. Petersburg there are 42 bakeries under both brands, according to AmRest. According to the British register, the main owner of “Khleb Nasuschny” and “Filippov” is actually Irish businessman, former General Director of “Wimm-Bill-Dunn” and retailer “O’Key” Tony Mayer with a share of 25 to 50% (exact data are not specified). “He bought a share in December 2016”, knows source close to Mr. Mayer. Also among the co–owners of the company are Julia Weber-Chubais (0.22%) and Karsten Weber-Chubais (0.12%). This is the name of the niece of Anatoly Chubais and her husband, former head of the Russian office of the German energy holding RWE.
AmRest will invest 6 million euros in the joint venture and will receive 51% of the new company, the rest will be with LPQ Russia, said the representative of the latter. The money will go to the development of two networks in Russia, said Polish holding. In the first year of work of the company is planning to open 16 bakeries, the representative of LPQ Russia noted. Investment in one outlet is estimated at $400 000-500 000.
Now more than 90% of bread in Russia is sold in stores, but the share of bakeries is growing every year, confirms the interest of consumers in such institutions Director of the Russian Guild of bakers and confectioners Mikhail Krikheli. However, the average check in Khleb Nasuschny is around 1500 rubles. and for ordinary people this is a lot of money.