Yum China Holdings Inc, backed by Chinese private equity firm Primavera Capital Group and Ant Financial Services Group, has agreed to acquire a controlling interest in online food delivery company Daojia.com.cn to better serve its Pizza Hut and KFC customers.
No financial details were disclosed, but the deal is expected to be completed by the end of May 2017.
This transaction marks another step in Yum China's strategy to accelerate growth by adding digital and delivery services to its franchise of 7,663 restaurants across China, Yum China said in an announcement today.
"Digital and delivery are long-term strategic drivers of our business, and I am pleased to build on our technological know-how and capabilities in this high-growth area," said Micky Pant, CEO of Yum China.
Yum China offers food delivery services for over 4,400...
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