David Gibbs, CEO of Yum! Brands,
said, “We’ve emerged from our three-year transformation stronger and in a
better position to accelerate the growth of our existing brands and leverage
our scale to unlock value from strategic acquisitions. 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 US and
internationally.”
During the period from 2009 to
2018, The Habit Burger Grill grew its company-operated restaurant average unit
volumes by 49.9%, from approx. $1.2 million to $1.9 million. The company has
been working to improve its customer experience through delivery partnerships
and digital capabilities.
Shares of Yum! were down slightly in afternoon hours but Habit’s stock skyrocketed 32% after the deal was announced.