Baltic hospitality and entertainment company Apollo Group OÜ has announced its entry into the Norwegian quick-service restaurant market through the acquisition of local fried chicken chain Fly Chicken AS, paving the way for the launch of the KFC franchise in Norway. The transaction, carried out in cooperation with MM Group and KFC franchisor Yum! Brands, marks Apollo Group’s fifth market for operating the global fried chicken brand.
Under the agreement, Apollo Group will acquire Fly Chicken from Fly Holding AS, whose principal owners include the Sandvik family, Knut Nikolai Tønnevold Ugland, and Fly Chicken co-founder and CEO Ronny Gjøse. The acquisition remains subject to customary closing conditions and regulatory approvals.
Fly Chicken currently operates 19 restaurants across Norway in cities including Oslo, Bergen, Trondheim, Stavanger and Lillestrøm. Apollo Group plans to convert the majority of these restaurants into KFC outlets while simultaneously opening additional KFC restaurants over the next five years.
The company said it will invest approximately €20 million in Norway over the next five years, covering both the acquisition and the expansion of the KFC network.
Apollo Group believes Norway presents a compelling growth opportunity due to its high purchasing power, stable economy, mature restaurant and food delivery market, and the absence of KFC in the country’s fried chicken segment.
Leadership to Remain Unchanged
Following completion of the transaction, Ronny Gjøse will continue as CEO of Fly Chicken and will lead the conversion of the business to KFC while overseeing future expansion. Apollo Group also confirmed that the acquisition will not impact existing employees, who will remain with the business.
Toomas Tiivel, CEO of Apollo Group, said: “This acquisition marks another important milestone in Apollo Group’s international expansion and further strengthens our position in Northern Europe. Norway is an attractive market with strong purchasing power, a stable economy and significant long-term potential. We see considerable opportunities to further develop the KFC brand by combining Fly Chicken’s local expertise with Apollo Group’s extensive experience in operating and expanding international restaurant concepts across multiple markets.”
Ronny Gjøse, CEO and co-founder of Fly Chicken, added: “We built Fly Chicken into Norway’s leading fried chicken concept, scaling to 19 restaurants with a small, efficient team and strong systems, without compromising on quality. This transaction brings together complementary strengths, an established Norwegian platform and local know-how on our side, and one of the world’s strongest restaurant brands with Apollo Group’s international experience and resources behind it.”
Apollo Group’s KFC Franchise Portfolio
Founded in 2000 and headquartered in Estonia, Apollo Group is one of the Baltics’ largest hospitality, entertainment and retail companies. The group operates restaurant brands including KFC, Vapiano, Lido, MySushi, CanCan and Delano, alongside cinema, bookstore and leisure businesses across Northern Europe.
With the Norwegian expansion, Apollo Group will operate KFC in five countries: Estonia, Latvia, Lithuania, Finland and Norway (new market).
Owned by Yum! Brands, KFC is one of the world’s largest quick-service restaurant chains, operating more than 31,000 restaurants across around 150 countries and territories. The company continues to expand internationally through experienced franchise operators and master franchise partners.
The Norwegian launch is significant because KFC currently has no operating restaurants in the country, making Apollo Group’s acquisition-led strategy an important step in establishing the brand through an existing restaurant platform rather than a greenfield rollout. According to Norwegian media, Fly Chicken generated NOK 155 million (approximately US$15 million) in revenue last year and employs more than 170 people, providing Apollo Group with an established operating base for the transition.
