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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

YUM! Brands To Acquire Habit Restaurants

01/07/2020

In a January 6th release, Yum! Brands announced acquisition of Habit Restaurants in a  transaction  valued at $375 million.

The Habit Burger Grill comprising a chain of 300 company-owned and franchise restaurants is based in California and will operate as a division of Yum! Brands reporting to the President and CEO, David Gibbs.

The Habit Burger Grill offers charburgers, chicken and tuna sandwiches, fresh salads and frozen desserts.  In 2019 the chain was named the ‘Best Regional Fast Food’ by USA Today.  In commenting on the transaction, David Gibbs noted “as a fast-casual concept the Habit Burger Grill is a fantastic addition to the Yum! family and has significant growth potential in the U.S. and internationally”. 

Russell Bendel, president and CEO of the Habit Burger Grill stated “over the past few years we have focused on becoming a total-access brand by growing out 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”.  He added “we are confident the agreement delivers immediate value to Habit Burger Grill shareholders and will greatly benefit our brand, team members, franchisees and guest for many years to come”.

It is expected that the acquisition will be approved by shareholders of both companies.


 
Copyright © 2020 Simon M. Shane