Yum! Brands Buys The Habit Restaurants for $375M

Yum! Brands struck the first major restaurant acquisition of 2020, announcing Monday it has entered into a definitive agreement to purchase The Habit Restaurants, Inc. for $375 million, or $14 per share in cash.The Habit Burger Group, founded 1969 in California, has more than 270 restaurants in 13 states (California, Arizona, Utah, New Jersey, Florida, Idaho, Virginia, Nevada, Washington, Maryland, Pennsylvania, North Carolina and South Carolina) as well as seven international restaurants. The price is about 33 percent over The Habit's closing share price of $10.51 on January 3.