Little Sheep adds choice of Yum-my flavors
By Jin Jing |
February 2, 2012, Thursday
|
Print Edition
Print Edition
YUM! Brands Inc yesterday said it has completed its purchase of China's hotpot chain, Little Sheep Group Co, as it expands its presence in the country to offer diners more local tastes.
Little Sheep, which owns nearly 470 restaurants in the Chinese mainland, will be delisted from the Hong Kong stock exchange today and become a unit of Yum, the US company said.
The privatization of Little Sheep signals Yum has officially taken over the management of Little Sheep in China as it named Xi Ziying, a former regional manager of KFC in China, to be the brand manager, replacing Lu Wenbing, former president of the hotpot chain.
Taking over Little Sheep will provide Yum additional access to China's catering industry and help it maintain growing momentum in the country, its biggest growth market.
Sam Su, chairman and CEO of Yum! Restaurants China and vice chairman of Yum! Brands, said the acquisition was an important expansion for Yum in China.
"We expect Yum's affiliated brands, including KFC, Pizza Hut, Pizza Express, East Dawning and Little Sheep, would continue to grow stronger and be market leaders in various catering segments."
Yum bought a 20 percent stake in Little Sheep in 2009 and increased it to 27.2 percent in 2010.
Little Sheep, which owns nearly 470 restaurants in the Chinese mainland, will be delisted from the Hong Kong stock exchange today and become a unit of Yum, the US company said.
The privatization of Little Sheep signals Yum has officially taken over the management of Little Sheep in China as it named Xi Ziying, a former regional manager of KFC in China, to be the brand manager, replacing Lu Wenbing, former president of the hotpot chain.
Taking over Little Sheep will provide Yum additional access to China's catering industry and help it maintain growing momentum in the country, its biggest growth market.
Sam Su, chairman and CEO of Yum! Restaurants China and vice chairman of Yum! Brands, said the acquisition was an important expansion for Yum in China.
"We expect Yum's affiliated brands, including KFC, Pizza Hut, Pizza Express, East Dawning and Little Sheep, would continue to grow stronger and be market leaders in various catering segments."
Yum bought a 20 percent stake in Little Sheep in 2009 and increased it to 27.2 percent in 2010.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
