LOUISVILLE, Ky. — Yum! Brands, Inc., has signed definitive agreements to sell Long John Silver’s, Inc., and American A&W Restaurants, Inc., to two separate buyers, led by franchisee leaders.“We are pleased to announce we have identified strategic buyers who are passionate about these two great restaurant brands and committed to their growth potential,” said David Novak, chairman and CEO of Yum! Brands, Inc.
“As we continue … our long-term growth focus on international expansion and improving our U.S. brand positions in KFC, Pizza Hut and Taco Bell, Long John Silver’s and A&W no longer fit our long-term growth strategy.”
A consortium of prominent franchisee leaders and investors, led by LJS Partners will buy Long John Silver’s, while A Great American Brand, led by a franchisee leader with interests in international A&W restaurants and the National A&W Franchisees Association, will acquire A&W American.
Both sales are subject to regulatory closing conditions.