(Irvine, CA) - Louisville-based Yum! Brands is getting into the burger business.
The company has announced it is paying around $375 million to acquire the Habit Burger Grill out of California.
The deal is expected to close in the second quarter of this year and Irvine, California, will continue to be the location of Habit's home office.
Yum! Brands CEO David Gibbs said in a statement Habit possesses a lot of room to grow not just in the U.S., but around the world.
Habit President and CEO Russell Bendel also praised the acquisition in a statement, saying many people stand to benefit.
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