Yum China Holdings Inc. on Aug. 22 said it has agreed to acquire a controlling interest in the Huang Ji Huang Group to expand its Chinese dining business.
Huang Ji Huang, a Beijing-headquartered Chinese-style casual dining franchise company, operates more than 640 locations worldwide. Its portfolio consists of the Huang Ji Huang simmer pot brand and its San Fen Bao Chinese fast food concept.
Yum China said the transaction, subject to closing conditions and regulatory approvals, is expected to close in early 2020.
Financial terms as well of the deal, as well as the size of the acquired stake, were not disclosed.
