Apollo Group is acquiring Norwegian chain Fly Chicken to bring the KFC franchise to Norway. The seller is Fly Holding AS, whose main owners are the Sandvik family, Knut Nikolai Tønnevold Ugland and CEO Ronny Gjøse. Fly Chicken currently operates 19 locations, most of which Apollo Group plans to convert into KFC restaurants, with additional new openings planned over the next five years. Apollo Group expects to invest around 20 million euros in the Norwegian market during that period. Norway becomes the fifth KFC market for Apollo Group, which cited the country's strong purchasing power, developed restaurant and delivery market, and the absence of KFC in the fried chicken category as key attractions.
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Apollo Global Management LLC Class A