Habit Restaurants (HABT) to be acquired by Yum Brands (YUM) for $14 per share or $375M

Following the deal, The Habit Burger Grill will become a subsidiary of Yum! Brands joining the likes of KFC, Pizza Hut and Taco Bell.

However, the fast-casual restaurant will continue to be operated as an independent brand and managed by its current president and CEO Russell Bendel and CFO Ira Fils.

Founded in California in 1969, The Habit Burger Grill offers a variety of made-to-order chargrilled burgers and sandwiches, as well as salads, sides and shakes. It operates nearly 300 company-owned and franchised restaurants across the US and China.

Based in Kentucky, Yum! Brands is the parent company of over 50,000 restaurants, primarily operating the company’s brands – KFC, Pizza Hut, and Taco Bell,  in more than 150 countries.