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Yum! Brands, Inc. (NYSE:YUM) on Monday announced it will acquire Habit Restaurants, Inc. (NASDAQ:HABT) for $14 per share in cash at a total of $375 million.
Yum Brands also owns Taco Bell, KFC, Pizza Hut, and WingStreet.
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The Habit Restaurants was founded in California in 1969, and offers charburgers, hand-filleted and marinated chargrilled chicken sandwiches, sushi-grade char-grilled ahi tuna sandwiches, salads, and handmade frozen treats.
“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,” David Gibbs, CEO of Yum Brands, said in a statement.
Habit's stock traded higher by 32% to $13.92 per share on Monday. The stock has a 52-week high of $14.16 and a 52-week low of $7.80.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.