Yum! Gobbles Up Burger Chain

In a deal totaling $375 million, Yum! Brands, Inc. will buy Irvine, Calif.-based­­ The Habit Burger Grill for $14 per share, the company announced today.

Founded in California in 1969, The Habit Burger Grill operates nearly 300 company-owned and franchised restaurants across the U.S. and in China. The acquisition will add a fast-casual concept to the parent of KFC, Pizza Hut and Taco Bell.

 “We’ve emerged from our three-year transformation stronger and in a better position to accelerate the growth of our existing brands and leverage our scale to unlock value from strategic acquisitions,” Yum! Brands CEO David Gibbs said in a statement.

Russell Bendel, president and chief executive officer of The Habit Burger Grill, said, “Over the past few years, we’ve focused on becoming a total access brand by growing our delivery business, expanding our online ordering and mobile channels and enhancing the in-store experience by introducing drive-thrus, kiosks and technology-centric solutions for operations. We’re proud these and other actions have made The Habit Burger Grill an attractive candidate for a transaction of this kind.”

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

RELATED CONTENT

Florida Lifts Restaurant and Bar Capacity Restrictions

The move follows Indiana's decision to allow full capacity at restaurants.

Read More...

Jamba to Squeeze 50 Units Into Japanese Market

The smoothie operator is partnering with a local apparel company to accelerate Asian expansion.

Read More...