USA: Tricon Global Restaurants acquires Long John Silver's and A&W All-American Food Restaurants
Louisville, Kentucky-based Tricon Global Restaurants today [Tuesday] announced it has signed a definitive agreement to acquire Long John Silver's and A&W All American Food Restaurants, owned by Yorkshire Global Restaurants (YGR), for US$320m in cash. David C. Novak, Tricon chairman and CEO, explained that the restaurant giant's major strategy is to lead the way in multibranding (offering the consumer two brands in one restaurant): "We have tested and proven the unique power of offering the seafood category's leading quick service brand, Long John Silver's, and the heritage of A&W's all-American hamburgers, hot dogs and legendary root beer floats to our existing KFCs and Taco Bells.
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