Yum China to acquire controlling stake in Huang Ji Huang
The transaction is expected to close in early 2020.
Yum China, which operates KFC and Pizza Hut in the country, is acquiring a Chinese-style casual dining franchise business.
In a statement, the company said entered into a definitive agreement to acquire a controlling interest in the Huang Ji Huang group, whose brand portfolio consists of its namesake simmer pot brand, as well as "San Fen Bao," a newly-launched Chinese fast food concept in China.
The transaction, subject to the satisfaction of closing conditions and regulatory approvals, is expected to close in early 2020.
Headquartered in Beijing, Huang Ji Huang was Founded in 2004 and has over 640 restaurants in China and internationally.
Yum China currently has over 8,700 restaurants as of 30 June. The company says its scale and system capabilities to expected to create synergies with Huang Ji Huang's track record of product R&D and brand management.
