3 Reasons Why Yum! Brands Is Acquiring Habit Restaurants
Yum! Brands (NYSE: YUM) is about to get even bigger.
The parent company of KFC, Taco Bell, and Pizza Hut said Monday that it would acquire Habit Restaurants (NASDAQ: HABT) a fast-casual burger chain based in Southern California. Yum! is already the world's biggest restaurant company, with more than 49,000 locations in countries around the globe. Taking over Habit will give it more than 270 fast-casual locations to work with, as well as a promising and fast-growing brand.
Yum! CEO David Gibbs explained the move: "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. As a fast-casual concept with strong unit economics, The Habit Burger Grill is a fantastic addition to the Yum! family and has significant untapped growth potential in the U.S. and internationally."
Source Fool.com
