Apollo Group, working alongside MM Group and the KFC franchise holder, has acquired the local Fly Chicken restaurant chain in Norway to introduce the KFC franchise to the Norwegian market, according to an announcement on nasdaqbaltic.com. The acquisition makes Norway the fifth market where Apollo Group operates under a KFC franchise agreement, backed by a planned investment of approximately 20 million euros over the next five years.
Norway Restaurant Market Expansion and Conversion Plans
The seller in the transaction is the Norwegian company Fly Holding AS, with the Sandvik family, Knut Nikolaj Tonnevold Ugland, and Ronny Gjøse listed as the main owners, according to nasdaqbaltic.com. Fly Chicken currently manages 19 restaurants across Norway. Apollo Group plans to convert the majority of these existing locations into KFC restaurants while also opening new sites during the five-year investment window. Following the completion of the deal, Fly Chicken co-founder and manager Ronny Gjøse will stay on to run the business operations.
Leadership Perspectives on the Nordic Growth Strategy
Apollo Group CEO Tomass Tīvels stated that the acquisition marks another milestone in the company’s international expansion while strengthening its foothold in Northern Europe, according to the nasdaqbaltic.com announcement. Tīvels noted that Norway features a stable economy and strong purchasing power, providing an ideal environment to scale the KFC brand by combining Fly Chicken’s local expertise with Apollo Group’s multi-market management experience. Fly Chicken manager Ronny Gjøse added that the deal pairs an established Norwegian platform with one of the world’s strongest restaurant brands.
“Šī iegāde iezīmē vēl vienu svarīgu pagrieziena punktu Apollo Group starptautiskajā paplašināšanā un vēl vairāk nostiprina mūsu pozīcijas Ziemeļeiropā. Norvēģija ir pievilcīgs tirgus ar spēcīgu pirktspēju, stabilu ekonomiku un ievērojamu ilgtermiņa potenciālu. Mēs saskatām ievērojamas iespējas tālāk attīstīt KFC zīmolu, apvienojot Fly Chicken vietējo pieredzi ar Apollo Group plašo pieredzi starptautisku restorānu konceptu vadīšanā un paplašināšanā vairākos tirgos,” teic Apollo Group izpilddirektors Tomass Tīvels.
Did You Know?
With this acquisition, Norway becomes the fifth market where Apollo Group operates restaurants under the KFC franchise agreement, supported by a fresh 20 million euro capital injection over the next five years.
Related European Market Developments
Alongside developments in the food service sector, broader retail and mobility markets in Europe continue to evolve. Kia has expanded its electric vehicle lineup in Europe with the introduction of the new Kia EV2, a fully electric B-segment urban SUV designed to serve as an accessible option for family needs, according to company announcements. The model focuses on practical, technology-driven transportation for everyday household use.
Frequently Asked Questions
Who sold the Fly Chicken restaurant chain to Apollo Group?
The restaurants were sold by the Norwegian company Fly Holding AS, whose main owners include the Sandvik family, Knut Nikolaj Tonnevold Ugland, and Ronny Gjøse, according to nasdaqbaltic.com.
How many locations does Fly Chicken operate in Norway?
Fly Chicken operates 19 restaurants across Norway, most of which Apollo Group plans to convert into KFC outlets, according to nasdaqbaltic.com.
What are Apollo Group’s investment plans for the Norwegian market?
Apollo Group plans to invest approximately 20 million euros in the Norwegian market over the next five years, according to nasdaqbaltic.com.
Who will manage Fly Chicken following the acquisition?
Fly Chicken co-founder and manager Ronny Gjøse will continue to lead the company operations after the deal is finalized, according to nasdaqbaltic.com.
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