Yum! Brands -- the parent company of Taco Bell, KFC, and Pizza Hut -- is adding cheeseburgers to its portfolio. The fast food giant announced on Monday it's acquiring The Habit Burger Grill, a fast casual California-based burger chain. The burger joint, which specializes in chargrilled patties and boasts an array of sandwiches and salads, was sold for approximately $375 million.
Does this mean you'll see The Habit burger collaboration menu items land at T-Bell, KFC, and Pizza Hut? Probably not. But you may end up with another fast casual burger option in the next few years, because Yum! Brands sees room for growth.
“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. With its delicious burgers and fresh proteins chargrilled over an open flame, The Habit Burger Grill offers consumers a diverse, California-style menu with premium ingredients at a QSR-like value," David Gibbs, CEO of Yum! Brands, said in a statement. "The transaction is a win-win because it allows us to offer an exciting new investment to our franchisees and to expand an award-winning, trend-forward brand through the power of Yum!’s unmatched scale and strengths in franchising, purchasing and brand-building.”
The Habit has roughly 300 franchised restaurants across the US and China and with Yum! Brands' involvement, is looking to expand.
“Over the past few years, we’ve focused on becoming a total access brand by growing our delivery business, expanding our online ordering and mobile channels and enhancing the in-store experience by introducing drive-thrus, kiosks and technology-centric solutions for operations," Russell Bendel, president and CEO of The Habit Burger Grill, said. "We’re proud these and other actions have made The Habit Burger Grill an attractive candidate for a transaction of this kind."
If you've yet to try The Habit, then keep on the lookout -- perhaps the burger chain will one day be as ubiquitous as Taco Bell.