Back to News
Mergers & Acquisitions

Yum Snags Habit Burger Grill

|
Published: January 6th, 2020
Taco Bell and KFC operator Yum! Brands acquires fast-casual burger chain Habit Burger Grill, which has been on The Deal's Watch List since June, for $375 million in cash.

Yum! Brands Inc. (YUM) on Monday, Jan. 6, announced it would acquire fast-casual restaurant chain Habit Restaurants Inc., which does business as Habit Burger Grill, for $375 million in cash.

The Irvine, Calif.-based company has been on The Deal’s Watch List since June 22, following a note from Gordon Haskett Research Advisors that the company could be ripe for activist engagement.

Greenwich, Conn.-based KarpReilly Capital Partners LP holds a roughly 16% stake in Habit and controls two board seats. It acquired a stake in the company in 2007 as part of an investor group that also included BlackRock Inc. (BLK), JPMorgan Chase & Co. (JPM) and Paul Fleming, the founder of P.F. Chang’s China Bistro Inc. BlackRock owned about 6.9% of shares as of June, according to FactSet Research Systems Inc.

Editor’s note: The original version of this article, including advisers and other details, was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

This Content is Only for The Deal Subscribers

The Deal provides actionable, intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them.

If you’re already a subscriber, log in to view this article here.

More From Mergers & Acquisitions

Mergers & Acquisitions

Anixter Goes With Wesco Over CD&R

By Tom Terrarosa
|
Published: January 14th, 2020
The target on Monday confirmed it would move forward with a $4.5 billion deal that its board had deemed superior days earlier.
Mergers & Acquisitions

Insight Partners to Acquire Cloud Company Veeam

By Lisa Botter
|
Published: January 10th, 2020
After the roughly $5 billion deal for the Swiss company closes — expected later this quarter — Veeam will become a U.S. company with a U.S.-based leadership team, Insight says.