Yum! Brands is acquiring charbroiled hamburgers-famed Habit Restaurants, for around $375 million.
Yum, parent of casual dining restaurant chains KFC, Pizza Hut and Taco Bell, said on Monday that it was buying Habit for $14 a share in cash.
The acquisition could potentially bolster/expand Yum’s menu offerings by adding Habit's specialties like flame-grilled burgers, chargrilled chicken, tuna and other sandwiches.
“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! Brands CEO David Gibbs said in a statement.
Yum! Brands indicated that it is expecting minimal impact to non-GAAP earnings per share before special items in 2020, with accretion starting in 2021 and increasing after that.