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Yum! Brands says it has agreed to purchase 20% of the outstanding common shares of Little Sheep Group Limited, headquartered in Inner Mongolia.
Little Sheep is in China’s “Hot Pot” restaurant category with 375 restaurants, primarily in China as well as Hong Kong, Japan, Canada and the US.
Established in 1999, the concept specializes in Mongolian-style Hot Pot Cuisine characterized by its proprietary soup base and Mongolian lamb specialties for lunch and dinner.
Over the past three years, Yum! China Division has opened nearly 1,500 new restaurants and has generated a compounded annual growth rate of 29% for system-sales and 31% for operating profit. Yum! China Division is the highest margin and highest return business in Yum’s global portfolio.
The purchase price for the transaction is approximately $63 million. The transaction is subject to regulatory and other approvals and is expected to be completed by this summer.
Little Sheep is in China’s “Hot Pot” restaurant category with 375 restaurants, primarily in China as well as Hong Kong, Japan, Canada and the US.
Established in 1999, the concept specializes in Mongolian-style Hot Pot Cuisine characterized by its proprietary soup base and Mongolian lamb specialties for lunch and dinner.
Over the past three years, Yum! China Division has opened nearly 1,500 new restaurants and has generated a compounded annual growth rate of 29% for system-sales and 31% for operating profit. Yum! China Division is the highest margin and highest return business in Yum’s global portfolio.
The purchase price for the transaction is approximately $63 million. The transaction is subject to regulatory and other approvals and is expected to be completed by this summer.
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