SHANGHAI, April 8, 2020 /PRNewswire/ — Yum China Holdings, Inc. (“Yum China“) (NYSE: YUMC) today announced that it has completed the acquisition of a controlling interest in the Huang Ji Huang group, a leading Chinese-style casual dining franchise business.
Founded in 2004 and headquartered in Beijing, Huang Ji Huang has over 640 restaurants in China and internationally. The group operates primarily under a franchise model and its brand portfolio consists of “Huang Ji Huang,” an industry-leading simmer pot brand, as well as “San Fen Bao,” a newly launched Chinese fast food concept in China.
Following the acquisition, Yum China will establish a Chinese Dining Business Unit comprising three core Chinese dining brands, Little Sheep, East Dawning, and Huang Ji Huang. The Company aims to gain a stronger foothold and enhanced know-how in the Chinese dining space, which represents a significant share of the dining market in China. With Yum China’s scale and system capabilities, and Huang Ji Huang’s track record and capabilities of product R&D, franchisee management, and Chinese dining know-how, the acquisition is expected to create synergies.
Source: CISION PR Newswire