Major Change in the Norwegian Market. Expansion of a Well-Known Fast Food Chain

Apollo Group has signed an agreement to acquire Fly Chicken. The group plans to allocate around 20 million euros for the purchase of the company and the development of operations in Norway. Investments are to be made over five years. During this period, additional restaurants are expected to open, although the exact number and locations have not been disclosed. Fly Chicken co-founder and CEO Ronny Gjøse will remain in his position after the transaction is completed.

Fly Chicken was founded in 2018. The first restaurant opened in the Steen & Strøm shopping center, and the network continued to grow even during the pandemic. Deliveries made by Wolt and Foodora helped support this growth. The concept proved effective for takeout and home delivery. According to Gjøse, the company grew faster than originally anticipated at that time.

The chain currently operates 19 restaurants. Last year, it generated revenues of 155 million NOK and employed over 170 people in locations including Oslo, Bergen, Trondheim, Stavanger, and Lillestrøm. Gjøse admitted that further independent expansion would be difficult. In his opinion, expanding Fly Chicken to 50 restaurants could exceed the company’s capabilities. After the acquisition, Apollo Group will be responsible for further growth.

Apollo Group already operates 38 KFC restaurants. Locations are in Estonia, Latvia, Lithuania, and Finland, and Norway will be the fifth market where the group develops the brand under a franchise system. Apollo Group CEO Toomas Tiivel pointed to Norway’s high purchasing power and economic stability. According to him, the market also has long-term potential. The group wants to combine Fly Chicken’s local experience with its own expertise in developing international restaurant chains.

Existing Fly Chicken restaurants will be remodeled and operate under the KFC brand. At the same time, Apollo Group plans to open additional locations over the next five years. The total investment is expected to amount to around 20 million euros. This sum includes both the acquisition of the company and the funds for business development. The price of the transaction itself and the detailed expansion schedule have not been disclosed.

KFC has previously appeared in Norway, but the attempt in the 1980s was short-lived. This time, the brand will enter the market through the existing network of Fly Chicken restaurants, employees, and operational infrastructure. Apollo Group has announced that the acquisition will not result in changes to the current staff.