Yum China Holdings, Inc., backed by private equity firm Primavera Capital Group and Ant Financial Services Group, has opened China's first Taco Bell restaurant in China today, as the fast-food franchise operator pushes for faster growth in the world's most populous country.
The restaurant, located in the Lujiazui financial district in Shanghai's Pudong district, is the result of a partnership between Yum China and Mexican cuisine chain Taco Bell Corp. Yum! Brands previously closed all four Taco Bell outlets it had in China in 2008 after unsatisfactory performance.
"We are excited to bring Taco Beel to China and open its first restaurant in a golden location in Shanghai,...
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