CEO David Gibbs: ‘It was not part of some master plan to be in the burger category’
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Yum Brands Inc. has dominated the quick-service world with brands that sell some of America’s most popular foods: tacos, pizza and fried chicken.
Now, it’s back in the burger business with the acquisition of Southern California-based fast-casual brand Habit Burger Grill. The deal with Irvine, Calif.-based Habit Restaurants Inc., valued at $375 million, represents the first major move by Yum’s new CEO David Gibbs. He succeeded Greg Creed after his retirement at the end of 2019.
The addition of the 271-unit charburger brand gives the Louisville, Ky.-based quick-service company instant access to a fast-growing counter-service chain that has embraced the convenience trend by adding drive-thru locations, delivery and self-ordering kiosks.
“Be...
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