Yum! Brands, Inc., the home of big fast food chains, Taco Bell, Pizza Hut and KFC, found buyers of its two restaurant chains, Long John Silver’s and A&W Restaurants. The company said that the sale will enable them to focus more on their international business strategies where they are looking at a significant growth.
Long John Silver’s is being bought by LJS Partners LLC, and A&W by A Great American Brand LLC. Financial terms of the deals were not yet disclosed. These two companies, according to Yum! Brands, do not fit into its long-term strategy because of the minimal presence outside US and zero presence in China, the company’s critical market.
The two food chains were acquired in 2002 for $320 million. A&W Restaurants started in 1919 as a root beer stand in California. It is named after its two founders, Allen and Wright. Today, there are over 600 A&W restaurants globally. 40-year-old Long John Silver’s, on the other hand, has over 1,200 restaurants worldwide.
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