Sources tell us Yum Brands (YUM) said today that they will purchase Habit Restaurants (HABT) for $375M. The progressive restaurant chain is adding another one to its already list of trendy fast food joints. YUM currently owns KFC, Taco Bell and Pizza Hut.
Yum! is paying $14 per share, or approximately $375 million, a relatively nice deal considering that Habit debuted on the market at $18 per share in November 2014.
The Habit Burger Grill is an American fast casual restaurant chain that specializes in charbroiled hamburgers. The company also purveys other typical fast-casual fare. Its headquarters are in Irvine, California. From 1969 to 2007, the chain slowly expanded around the Los Angeles metropolitan area to 23 restaurants.