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☆ McDonald's in Russia is now called 'Tasty & that's it' and Big Macs are Big Hits
▼ + stars: | 2023-06-14 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +3 min

New owners of locations that once housed McDonald's and Starbucks say they got a great deal. In May 2022, McDonald's stopped doing business in Russia, citing the war in Ukraine, and the "unpredictable operating environment." They replaced Big Macs with Big Hits and sold a record 120,000 burgers on the first day in business, the chain's CEO told Reuters at the time. "We have never seen such daily turnover in the whole time McDonald's has worked in Russia," Oleg Paroev told Reuters in June 2022. Starbucks locations in Russia also ceased operations around the same time and became Stars Coffee, a cafe with a familiar green logo of a vaguely seafaring-looking queen.

Persons: —, McDonald's, Krispy Kreme, Oleg Paroev, Maxim, Anton Pinskiy, Timati, Vladimir Putin, Pinskiy, Alexander Govor, Vladimir Organizations: Global, Service, Guardian, Reuters, REUTERS, Tass, Starbucks Locations: Russia, Ukraine, Moscow, Russian

☆ Russia's McDonald's replacement says it's serving 2 million customers a day, but diners are divided on whether it's as good as the original
▼ + stars: | 2023-06-07 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Russia's McDonald's replacement, Vkusno & tochka, opened a year ago. The chain can't sell iconic McDonald's items like the Big Mac and has created substitutes instead. Its CEO told Reuters that it has sold more than 24 million "Big Hits," its Big Mac dupe, since opening. Paroev previously said that Vkusno & yochka sold 120,000 burgers on its opening day, which he said was higher than any other day in McDonald's Russia's history. Have you been to Vkusno & tochka?

Persons: Russia's, —, Alexander Govor, tochka, hasn't, Oleg Paroev, Paroev, yochka, Tian Bing, tochka hadn't, tochka's, Ronald McDonald Organizations: Reuters, Service, Mac, China News Service, Getty Locations: Ukraine, Russian, Russia, Moscow

☆ Russia's McDonald's heir growing quickly, in for the long haul
▼ + stars: | 2023-06-06 | by ( Olga Popova | ) www.reuters.com time to read: +2 min

McDonald's Corp (MCD.N) closed its Russian restaurants soon after Moscow sent tens of thousands of troops into Ukraine in February 2022, eventually selling to a local licensee, Alexander Govor. The chain has sold more than 24 million of its Big Mac replacement burgers, the Big Hit, CEO Oleg Paroev said. Hamstrung by agreements with McDonald's, Vkusno & tochka, can not open restaurants in countries where McDonald's already has a presence. Russian authorities and Govor have said McDonald's has an option to buy back its Russia restaurants within 15 years. It would find a market where Vkusno & tochka is the master franchisee should it do so.

Persons: Alexander Govor, Govor, Oleg Paroev, Natalya Fadeeva, Evgenia, I've, McDonald's, Olga Popova, Alexander Marrow, Sharon Singleton Organizations: McDonald's Corp, Reuters, REUTERS, Thomson Locations: Russia, Ukraine MOSCOW, Moscow, Ukraine, Russian, McDonald's, Belarus, Kazakhstan

☆ Former McDonald's restaurants reopen without branding in Kazakhstan
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

[1/6] A view shows a fast food restaurant, which used to operate under the McDonald's brand and reopened with no branding weeks after the U.S. company left the local market, in Almaty, Kazakhstan January 23, 2023. REUTERS/Pavel MikheyevALMATY, Jan 23 (Reuters) - Several restaurants which used to operate under the McDonald's (MCD.N) brand in Kazakhstan reopened on Monday with no branding to serve fast food under generic names such as "Cheeseburger", weeks after the U.S. company left the local market. McDonald's and Food Solutions KZ terminated their licence agreement this month, citing supply issues. Sources earlier told Reuters that McDonald's Kazakhstan had stopped buying supplies from Russia and had trouble replacing them. Food Solutions KZ did not say on Monday whether it has replaced any components such as beef patties with Kazakh produce, and declined to comment on any questions not addressed in its statement.

☆ Russia's rebranded McDonald's may expand into Kazakhstan after McDonald's reportedly banned its restaurants there from selling Russian meat, forcing them to close
▼ + stars: | 2023-01-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Fast-food chain Vkusno & Tochka replaced some of McDonald's restaurants in Russia after they all closed. Alexander Govor, a Russian businessperson, bought Russia's closed McDonald's restaurants in May and rebranded them as Vkusno & Tochka, which translates as "tasty and that's it." Pavel Mikheyev/Getty ImagesMcDonald's confirmed to Insider that its contract with Food Solutions had been terminated. Kazakh news outlet Tengrinews, however, reported that Food Solutions' director said the company didn't plan to rebrand its restaurants as Vkusno & tochka. The chain said in December, however, that it was working on a substitute for McDonald's trademark Big Mac.

☆ Russia's McDonald's successor applies for trademark in Kazakhstan
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

ASTANA, Jan 16 (Reuters) - Vkusno & tochka, the Russian successor brand to McDonald's (MCD.N), has applied to have its trademarks registered in neighbouring Kazakhstan following the U.S. company's exit from its market, the Kazakh government said on Monday. McDonald's and its Kazakh licensee terminated their agreement this month, citing supply issues. Sources earlier told Reuters McDonald's Kazakhstan had stopped buying supplies from Russia and had trouble replacing them. McDonald's closed its Russian restaurants soon after Moscow sent tens of thousands of troops into Ukraine last February, eventually selling to a local licensee, Alexander Govor, who unveiled the Vkusno & tochka brand in June. Reporting by Tamara Vaal; writing by Olzhas Auyezov; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

The deal McDonald's struck with former licensee Alexander Govor included a set of requirements the new brand, Vkusno & tochka, must stick to, including restrictions on branding, colour scheme and product usage. New owner Alexander Govor said this week he and the management team regularly talk over video link to the former parent company. "We are not talking about how they somehow participate in our business, this is already done," Vkusno & tochka, which translates to "Tasty & that's it," CEO Oleg Paroev told Reuters. In a statement to Reuters, McDonald's said it fully exited the Russian market earlier this year. Russian authorities in June said McDonald's has an option to buy back its Russia restaurants within 15 years.

☆ Russia’s McDonald’s successor replacing Big Mac with ‘Big Hit’
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Dec 12 (Reuters) - Starved of Big Macs since McDonald’s Corp (MCD.N) closed its Russian restaurants in March, Russians will from next year be treated to an alternative from the burger chain’s successor - the "Big Hit". Vkusno & tochka, or "Tasty & that's it", on Monday said the Big Hit would be available from February and a similar product to the McDonald’s Happy Meal would be making a comeback as "Kids' Combo". McDonald's closed its Russian restaurants soon after Moscow sent tens of thousands of troops into Ukraine in February, eventually selling to a local licensee, Alexander Govor, who unveiled the new brand in June. Since acquiring Russia's McDonald's restaurants, Govor has snapped up Finnish packaging company Huhtamaki's (HUH1V.HE) Russian business and a logistics firm, set to be renamed "Logistics & that's it". Some Vkusno & tochka restaurants had to take fries off the menu earlier this year when faced with a potato shortage.

☆ Krispy Kreme has exited Russia over the war in Ukraine. 'Krunchy Dream' is taking its place.
▼ + stars: | 2022-11-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

A chain of new donut shops called Krunchy Dream has sprung up in Russia, where Krispy Kreme once stood. They are owned by the Novikov Group, whose owner Arkady Novikov is Krispy Kreme's only former franchisee in Russia. It then proceeded to shutter all Russian Krispy Kreme shops. Krispy Kreme said in its second-quarter earnings results release that it had closed 30 franchise shops in Russia. Krispy Kreme and the Novikov Group did not immediately respond to Insider's requests for comment which were sent outside regular business hours.

☆ Russian McDonald's buyer turns to logistics with HAVI purchase
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - The owner of McDonald's former restaurants in Russia, Alexander Govor, is buying privately-owned Russian logistics company HAVI, which has 14 distribution centres, his firm said on Wednesday. Govor reopened McDonald's restaurants in Russia in June under the brand, Vkusno & tochka ("Tasty, and that's it"). Vkusno & tochka said Govor would retain HAVI's management and more than 1,200 employees, rebranding the firm as Logistika - i Tochka ("Logistics, and that's it"). HAVI was described as "focused on innovation, optimization and supply chain management for the world's leading brands". Govor said HAVI had shown since 2008 that it could be "a reliable partner to ensure the logistics of our business throughout Russia".

☆ Factbox: Companies sell their businesses in Russia
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +9 min

The logo of French tyre maker Michelin is seen at a company building in Boulogne-Billancourt, near Paris, France, August 6, 2022. REUTERS/Sarah Meyssonnier/File PhotoOct 10 (Reuters) - Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they seek to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. Below is a list of firms by sector that have sold their businesses in Russia:AUTOS** British car distributor Inchcape (INCH.L) sold its Russian business to local managementRegister now for FREE unlimited access to Reuters.com Register** Italian truck and bus maker Iveco (IVG.MI) transferred its 33% stake in its AMT truck assembly joint venture in Russia to a local partner** French tyre maker Michelin (MICP.PA) intends to transfer its activities in Russia to a new entity under local management by end-2022** French carmaker Renault (RENA.PA) sold its majority stake in Avtovaz (AVAZI_p.MM) to a Russian science institute, and transferred all shares in Renault Russia to the city of Moscow** MAN Truck & Bus and Scania, units of German truck maker Traton (8TRA.DE), expect to sell their sales companies in Russia to local partners along with Scania's Russian financing business by Q1 2023BANKS** Britain's HSBC (HSBA.L) agreed to sell its Russian business to Expobank, subject to regulatory approvals in Russia** Czech investment group PPF sold its Russian banking assets, including consumer lender HCFB and its subsidiaries, to investors led by Ivan Tyryshkin** France's Societe Generale (SOGN.PA) sold its Russian business Rosbank (ROSB.MM) to Interros Capital, a firm linked to Russian oligarch Vladimir PotaninCONSUMER ELECTRONICS** Swedish home appliance maker Electrolux (ELUXb.ST) transferred its business in Russia to local management** Its Electrolux Professional (EPROb.ST) branch also sold its Russian business to local management** Whirlpool (WHR.N) sold its Russian operations to Turkey's Arcelik (ARCLK.IS)ELECTRICAL COMPONENTS & EQUIPMENT** Finland's Boreo (BOREO.HE) sold its 90% stake in YE Russia to companies controlled by its current director Yrjö Pönni** U.S. industrial firm Emerson Electric (EMR.N) agreed to sell its Russia business to the local management** Finnish elevator maker Kone (KNEBV.HE) expects to close the sale of its Russian business to local management in Q4 2022** France's Schneider Electric (SCHN.PA) expects to close the sale its Russian unit to local management by end-2022** U.S. elevator maker Otis (OTIS.N) sold its Russia business to local investment firm Ice DevelopmentENERGY** French industrial gases producer Air Liquide (AIRP.PA) agreed to shift its Russian assets to local management, subject to regulatory approvals in Russia** Baker Hughes (BKR.O) agreed to sell its oilfield services business in Russia to local management, with closing expected in H2 2022** Italian utility Enel (ENEI.MI) sold its 56.43% stake in Enel Russia to Lukoil (LKOH.MM) and private fund Gazprombank-Frezia** Norway's Equinor (EQNR.OL) transferred assets of its Russian oil and gas joint ventures to state-owned partner Rosneft (ROSN.MM), and its 30% stake in the Arctic Kharyaga oilfield to state-controlled Russian operator Zarubezhneft** U.S. oilfield services firm Halliburton (HAL.N) sold its Russia operations to a management team made up of former employees** Oil major Shell (SHEL.L) sold its Russian retail and lubricants business to Lukoil** Singapore-based commodities trader Trafigura sold its 10% stake in Vostok Oil project in Siberia to Hong Kong-registered trading firm Nord Axis** Total Energies (TTEF.PA) sold its remaining 20% interest in the Kharyaga oil project to Zarubezhneft, and its 49% stake in Terneftegaz to joint venture partner NovatekFOOD & BEVERAGES** Finland's Atria (ATRAV.HE) sold its fast food business in Russia, Sibylla Rus, to Russian meat producer Cherkizovo (GCHE.MM)** Finland's Fazer sold its Russian unit to Moscow's Kolomenskij Bakery and Confectionery Holding** Irish ingredients giant Kerry Group (KYGa.I) sold its Russian subsidiary to local management and agreed to offload its Belarusian unit to a local operator** Fast food chain McDonald's (MCD.N) sold its Russian business to its licensee Alexander Govor** Finnish food and drinks company Paulig sold its operations in Russia to private Indian investor Vikas Soi** Yum Brands (YUM.N) sold its Pizza Hut business in Russia to a local operator** Finnish food processing firm Raisio (RAIVV.HE) sold its consumer business in Russia to Copacker Agro** Finnish dairy producer Valio sold its Russian business to GK VelkomINDUSTRIAL MACHINERY** Polish measuring devices maker Apator's (APTP.WA) Powogaz unit divested its entire stake in Russia-based AO Teplovodomer** Danish industrial firm Danfoss agreed to sell its Russian and Belarusian business to local management, subject to approval by shareholders and regulatory approvals in Russi

☆ Fries shortage resolved, successor to McDonald's in Russia eyes full reopening
▼ + stars: | 2022-09-20 | by ( Alexander Marrow | ) www.reuters.com time to read: +2 min

Oleg Paroev, CEO of Vkusno & tochka, or "Tasty and that's it", painted a positive picture of the company's first 100 days, but withheld specific details on sales, revenue, new products and import markets. The bumpy transition illustrates as Western companies have had trouble making a seamless exit from Russia, so too have new owners faced challenges when snapping up available assets. He added that potato supply had now been resolved, declining to say which countries now send potatoes to Russia. Since Sept. 16, Vkusno & tochka has been serving cola on tap, now offering Dobry Cola, after Coca-Cola (KO.N) depleted its stock. Bottler Coca Cola HBC AG (CCH.L), which is producing Dobry Cola, said it has no connection with the Coca-Cola Co.

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