Taco Bell’s parent is buying Habit Burger as a way to break into the fast-casual industry
Article via CNBC
"Yum Brands’ $375 million acquisition of Habit Restaurants gives the owner of Taco Bell, KFC and Pizza Hut an opportunity to break into the fast-casual industry at a time when fast-food restaurants are struggling.
Habit operates Habit Burger Grill, a premium burger chain founded in 1969 with nearly 280 locations, including several in China. The acquisition is expected to close by the end of the second quarter.
“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,” Yum CEO David Gibbs, who took the reins of the company last Wednesday, said in a statement."
Read the full article by Amelia Lucas here.