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Chinese restaurant company Yum China Holdings will acquire a controlling interest in the Huang Ji Huang group, a Beijing-based Chinese-style casual dining franchise business. This acquisition will help Yum China to gain a stronger foothold and enhanced know-how in the Chinese dining space.
The transaction is expected to close in early 2020, subjective to the satisfaction of closing conditions and regulatory approvals.
Huang Ji Huang group was founded in 2004. It has over 640 restaurants in China and internationally.
The group operates primarily under a franchise model. Its brand portfolio comprises of "Huang Ji Huang," an industry-leading simmer pot brand, and "San Fen Bao," a newly opened Chinese fast food concept in China.
Yum China, the largest restaurant company in China, has more than 8,700 restaurants in over 1,300 cities as of June 30.
