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Taco Burgers? Yum Brands Buys Habit Restaurants For $375M

Taco Burgers? Yum Brands Buys Habit Restaurants For $375M

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.

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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