Yum! Brands to take over The Habit Burger Grill chain
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Yum! Brands has bought California-based The Habit Burger Grill, adding its first fast-casual burger chain to its portfolio which already includes KFC, Pizza Hut and Taco Bell
The company says it has bought all of The Habit Burger Grill’s issued and outstanding common shares in a deal worth US$375 million.
“The Habit Burger Grill is a sweet spot within fast-casual because of its delicious California-inspired menu with premium ingredients at a QSR-like value, strong unit economics and tremendous untapped growth potential in the US and internationally,” said David Gibbs, CEO of Yum! Brands.
As a subsidiary of Yum! Brands, The Habit Burger Grill will continue to be run as an independent brand, the company said in a statement.
President and CEO of The Habit Burger Grill, Russell Bendel, said, being part of Yum! will take The Habit Burger Grill to the next level by leveraging Yum!’s global scale, resources, and franchising capabilities to strengthen and significantly grow our beloved brand for many years to come.”
Founded in California in 1969, fast-casual restaurant concept The Habit Burger Grill operates about 300 restaurants across 13 states in the US.
Questions & Answers
Q.Which other restaurant brands are part of Yum! Brands' portfolio?
Which other restaurant brands are part of Yum! Brands' portfolio?
Yum! Brands' portfolio already includes well-known fast-food chains such as KFC, Pizza Hut, and Taco Bell. The Habit Burger Grill is their first fast-casual burger chain addition.
Q.What is the stated value of the acquisition of The Habit Burger Grill?
What is the stated value of the acquisition of The Habit Burger Grill?
Yum! Brands has purchased all of The Habit Burger Grill’s issued and outstanding common shares. The deal is worth US$375 million, as stated by the company.
Q.How many restaurants does The Habit Burger Grill currently operate?
How many restaurants does The Habit Burger Grill currently operate?
The Habit Burger Grill, a fast-casual restaurant concept founded in California in 1969, operates approximately 300 restaurants. These locations are spread across 13 states in the US.
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