KFC Parent Company Set To Acquire Habit Burger Grill
Yum Brands is the parent company of both KFC and Taco Bell. The acquisition comes as no surprise to analysts who have noticed a shift in perspective as Yum Brands has voiced more openness to mergers and acquisitions.
Habit Burger Grill has consistently been competitive in the burger chain category. It is the first fast-casual restaurant in the portfolio of Yum Brands. Additionally, Habit Burger Grill has undergone a period of wide expansion. Between 2017 and 2019, Habit Burger Grill expanded from 172 restaurants to 278.
"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," said Yum Brands CEO David Gibbs.
Gibbs has expressed interest in those quick serve restaurants that are able to scale up and meet increasing demand while also increasing same-store sales growth. There are further criteria that Yum Brands looks at when evaluating a company. However, Yum Brands keeps those details under wraps.
"If a brand fits all of our criteria — a lot of which I can't share for strategic reasons — then yes, we would go do an acquisition and be excited about it," Gibbs said. "And we're always looking at them."