Yum China Holdings has entered into a definitive agreement to acquire a controlling interest in Huang Ji Huang group, a leading Chinese-style casual-dining franchise business.
Subject to the satisfaction of closing conditions and regulatory approvals, the transaction is expected to close early next year.
Founded in 2004 and headquartered in Beijing, Huang Ji Huang has more than 640 restaurants in China and internationally. The group operates primarily under a franchise model and its brand portfolio consists of simmer pot brand “Huang Ji Huang” as well as “San Fen Bao”, a newly launched Chinese fast food concept.
Yum China is the largest restaurant company in China, with more than 8700 restaurants as of June 30. With the addition of Huang Ji Huang, Yum China aims to gain a stronger foothold and enhanced knowhow in the Chinese dining space, which represents a significant share of the dining market in China.