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Yum China and Taco Bell announce the opening of two new Taco Bell restaurants in Shanghai, China

Yum China opens a new Taco Bell restaurant in Wu Jiao Chang, Shanghai in Dec 2017

Debuts exclusive dinner menu and table service Unique East meets West design integrates restaurants in local communities

Shanghai, China, 2018-Jan-03 — /EPR Retail News/ — Yum China Holdings, Inc. (“Yum China”) (NYSE: YUMC), and Taco Bell Corp., the world’s largest Mexican-inspired restaurant chain, today announced the opening of two new restaurants in Shanghai, China. Following the successful opening of the first Taco Bell restaurant in China earlier this year in Shanghai’s Lujiazui area, Yum China has opened a new Taco Bell restaurant in a premium shopping mall in Wu Jiao Chang, close to some of Shanghai’s top universities, and expects to open a restaurant in Feng Sheng Li, a popular shopping precinct before the end of 2017.

“The response to our first Taco Bell store in Shanghai has been fantastic, and we are very excited to introduce two more unique restaurants to the city,” said Micky Pant, Chief Executive Officer of Yum China. “The new restaurants integrate Taco Bell’s signature brand and spirit into the local community, and bring both classic menu items and original recipes to cater to Chinese customers. We are excited to welcome more customers to experience Taco Bell in Shanghai and look forward to bringing this vibrant, global brand to other parts of China in 2018.”

In keeping with the “Live Mas” spirit of exploration and innovation, the Taco Bell restaurants will introduce a new dinner menu, exclusive to China, as well as a range of freshly grilled menu items to entice curious diners. Taco Bell’s chefs spent countless hours to come up with their new craveable lineup, including the Ribeye Steak & Mushroom Taco, Taco Salad Bowl (available with either Ribeye Steak or Grilled Chicken), Beef Kebab Nachos, and XL-Wing Nachos. To complement the freshly prepared dishes, the Wu Jiao Chang and Feng Sheng Li restaurants will unveil an array of alcoholic beverages, including the all new “Shanghai Cosmopolitan”, a refreshing and beautifully crafted cocktail inspired by mixologists.

The two new Taco Bell restaurants in Shanghai will also introduce a new service model, with orders delivered directly to designated tables, which will enable customers to relax and enjoy the company of their friends and fellow students without having to get back up to pick up their food.

“Bringing the Taco Bell experience to more customers globally in locally relevant ways is key to our continued growth,” said Brian Niccol, Chief Executive Officer of Taco Bell Corp. “These new restaurants have truly blended the Taco Bell brand within their communities through locally designed restaurants and customized food and service options. We are delighted to see the reception to Taco Bell in China and look forward to bringing the ‘Live Mas’ spirit to more consumers across the country.”

Taco Bell Wu Jiao Chang – A Creative Platform 

Taco Bell’s new restaurant in Wu Jiao Chang has its own distinct and vibrant DNA in terms of both architecture and design. Located in a prime shopping mall close to a number of Shanghai’s top universities, this newly upgraded commercial destination will serve to please the appetites of people living in the community as well as the thousands of students close by.

Inspired by the energetic and youthful vibe in this area, Taco Bell’s locally based design team has sought to combine its California roots with Chinese style and culture. The restaurant will feature one-of-a-kind artwork that encompasses the spirit of “Live Mas” by combining old with new, unique shapes, and vibrant colors.

Communal tables encourage students and urban professionals to congregate, study, socialize, and of course eat. Taco Bell has also gone one step further to offer a platform to inspire customers and their passion for the arts, music and other interests. Customers will be invited to display their artwork, poetry, designs, and other creative expressions on “Live Mas” walls, allowing them to express their individuality to other restaurant visitors. The restaurant will also provide a creative outlet for the community by hosting events to showcase talents.

Taco Bell Feng Sheng Li – East Meets West Fusion

Located in a historic residential area close to a popular Shanghai shopping precinct, the Feng Sheng Li restaurant is designed in the architectural style known as “Shikumen”, or literally “stone gate” buildings. A striking example of East meets West fusion, the Shanghai-style townhouse incorporates elements of Taco Bell’s signature look and feel while integrating with the local environment. Art featured in the restaurant combines images that represent both California and Shanghai – including the Shanghai Oriental Pearl Tower and Shanghai’s art deco buildings sitting comfortably among California palm trees and skateboards.

The neighboring alleyway, historically a place for residents to congregate, features customized street art that serves as a backdrop to the outdoor dining area. The alley space is also separated into clusters to cater to different group sizes and dining habits, and a canopy ensures that customers can enjoy Taco Bell rain or shine.

Currently, Taco Bell has more than 7,000 restaurants in the world with almost 400 in 26 countries outside of the United States. Taco Bell’s restaurants in China are part of the brand’s global growth strategy of reaching 1,000 restaurants internationally by 2022.

Photos of the new Taco Bell restaurants in Shanghai can be downloaded at the following link:http://www.yumchina.com/uploadfile/NewTacoBellRestaurants.rar

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “will,” “should,” “forecast,” “outlook”, “look forward to” or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions “Risk Factors” and “Forward-Looking Statements” in our Annual Report on Form 10-K) for additional detail about factors that could affect our financial and other results.

About Yum China Holdings, Inc.  

Yum China Holdings, Inc. is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC, China’s leading quick-service restaurant brand, Pizza Hut, the leading casual dining restaurant brand in China, and Taco Bell, which opened its first restaurant in China at the end of 2016. Yum China also owns the Little Sheep and East Dawning concepts outright. Yum China is well positioned for growth thanks to its strong competitive position, integration of its brands into Chinese popular culture and consumers’ daily lives, expanding geographic footprint in China and existing operational expertise. It has a strong capital position, no external debt and expects to continue growing its system sales and profit by adding new restaurants and through growing same-store sales. Yum China had more than 7,700 restaurants and more than 420,000 employees in over 1,100 cities at the end of August 2017. A new generation of younger consumers who are digitally sophisticated and brand driven are fueling growth in consumption in China. The ongoing growth of the middle class and urban population in China is expected to create the world’s largest market for restaurant brands, with Yum China poised to be the market leader.

ABOUT TACO BELL® CORPORATION

Taco Bell Corp., a subsidiary of Yum! Brands, Inc. (NYSE: YUM), is the nation’s leading Mexican-inspired quick service restaurant (QSR) brand. From breakfast to late night, Taco Bell serves made-to-order and customizable tacos and burritos, among other craveable choices, and is the first QSR restaurant to offer American Vegetarian Association (AVA)-certified menu items. Taco Bell and its more than 350 franchise organizations proudly serve over 42 million customers each week through 7,000 restaurants across the nation, as well as through its mobile, desktop and delivery ordering services. Overseas, Taco Bell has over 250 restaurants, with plans to add 2,000 more restaurants internationally within the next decade. The brand encourages its fans to “Live Mas” and connects with them through sports, gaming and new music via its Feed The Beat® music program. Taco Bell also provides education opportunities and serves the community through its nonprofit organization, the Taco Bell® Foundation™, and connects fans with their passions through programs such as the Live Mas Scholarshipprogram. In 2016, Taco Bell was named as one of Fast Company’s Top 10 Most Innovative Companies in the World.

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SOURCE: TACO BELL® CORPORATION

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Yum! Brands: Primavera Capital Group and Ant Financial Services Group to invest $460 million in Yum China

LOUISVILLE, KY and SHANGHAI, 2016-Sep-07 — /EPR Retail News/ — Yum! Brands, Inc. (NYSE: YUM) today (September 2, 2016) announced that it has entered into agreements with Primavera Capital Group, a China-based global private equity firm, and Ant Financial Services Group, one of the world’s leading online and mobile financial services providers that operates the widely used Alipay mobile payments platform, to invest a total of $460 million in Yum China, concurrent with the completion of Yum China’s spinoff from Yum! Brands.

The spinoff and concurrent completion of the Primavera and Ant Financial investments are expected to occur on October 31, 2016, with Yum China to commence trading on the New York Stock Exchange as an independent company on November 1, 2016, under the ticker symbol “YUMC.”

Under the terms of the agreements, Primavera and Ant Financial will invest $410 million and $50 million, respectively, in Yum China. The final number of shares issued to Primavera and Ant Financial will be subject to a post closing adjustment such that the effective price will be equal to an 8% discount to the volume-weighted average trading price of Yum China’s equity value during the period commencing 31 days and ending 60 days following completion of the spinoff (subject to a collar mechanism limiting the minimum and maximum shares to be issued). Primavera and Ant Financial will also receive two tranches of warrants to acquire shares of Yum China common stock reflecting approximately 2% equity ownership interest (in the aggregate) in each tranche to be exercisable in the five-year period following the issuance of those warrants, with strike prices correlating to equity values of $12 billion and $15 billion.

The Company also announced that founder of Primavera Dr. Fred Hu, former Chairman of Greater China at Goldman Sachs, will become Non-Executive Chairman of the Board of Yum China.

“We have long admired the Yum China business and are looking forward to collaborating with the Board and management to realize the company’s full potential,” said Dr. Hu of Primavera. “Yum China is an established leader in the retail and restaurant industry which we believe is poised for continued strong growth and unit expansion as cities across China invest in new transportation hubs, shopping malls and other physical and electronic infrastructure that will support consumption. I look forward to leading the Board of Directors of Yum China in its new and exciting chapter as an independent company.”

“Through this collaboration, we aim to help Yum China provide world-class mobile payment services for tens of millions of customers across its brands. These services include hassle-free Alipay for customers to help shorten queues at the cashier as well as membership solutions for Yum China designed to help manage their customer relations and promotions,” said Eric Jing, President of Ant Financial Services Group. “Leveraging our Big Data capabilities, KFC and Pizza Hut witnessed promising marketing results through their promotion on multiple Ant Financial platforms. We look forward to further collaborating with Yum China in the future.”

“Primavera and Ant Financial both have deep insights into the rapid urbanization and digital transformation which is driving the evolution of China’s economy, and we are excited about their investment into Yum China,” said Micky Pant, Chief Executive Officer of Yum China. “The investment is a clear endorsement of our business strategy and growth potential, and their diverse experience and relationships will be extremely beneficial. Dr. Hu’s extensive market insights and experience scaling businesses in China will be invaluable as we move to expand the footprint of our brands. In addition, Yum China is already the leading restaurant company for cashless payment systems in China, and we expect Ant Financial can provide further unique insights to help us better connect with consumers through mobile technology.”

“The investments from Primavera and Ant Financial in Yum China mark another important milestone in our plans to separate the China business and create a solid foundation for Yum China as it prepares to become an independent restaurant powerhouse,” said Greg Creed, Chief Executive Officer of Yum! Brands. “We look forward to partnering with Primavera and Ant Financial to drive long-term growth at Yum China and welcome Dr. Hu as Non-Executive Chairman of Yum China. I’m pleased that the spinoff remains on track for completion on October 31 and look forward to sharing additional details on the transformative initiatives we are undertaking as we become a more heavily franchised company at our New York investor conference on Tuesday, October 11.”

Primavera has an established track record of supporting successful, high-growth companies in China whose business models benefit from rising consumption and the adoption of urban lifestyles. Its investments include Alibaba Group Holding Ltd. (NYSE: BABA) and Ant Financial, among many others. Ant Financial is an online and mobile financial services firm and digital payments network provider in China.

The closing of the investments are subject to completion of the spinoff and other customary closing conditions.

Goldman, Sachs & Co. is serving as financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Yum! Brands and Yum China. PJT Partners is serving as an independent financial advisor to Yum! Brands’ Board of Directors. Simpson Thacher & Bartlett LLP and Fangda Partners are serving as legal advisors to Primavera and Ant Financial.

About Yum China Holdings
Yum China Holdings will become a licensee of Yum! Brands in Mainland China. It will have exclusive rights to KFC, China’s leading quick-service restaurant concept, Pizza Hut, the leading casual dining brand, and Taco Bell, which is expanding globally but is not yet in China.

The new company will be well positioned for growth thanks to its strong financial position, established brand identity, extensive and expanding footprint and operational expertise. It will have a strong capital position, no debt and significant sales and profit potential from its existing restaurants. KFC and Pizza Hut have more than 7,200 restaurants in over 1,000 cities in China and generated over $8 billion in system sales and approximately $1 billion in EBITDA in 2015. The growth of consumption in China is being fueled by a new generation of younger consumers who are digitally sophisticated and brand driven. The additional growth of the urban population in China is expected to create the world’s largest market for restaurant brands, with Yum China as the clear leader.

About Yum! Brands
Yum! Brands, Inc., based in Louisville, Kentucky, has nearly 43,000 restaurants in almost 140 countries and territories. Yum! is ranked #218 on the Fortune 500 List with revenues of over $13 billion in 2015 and is one of the Aon Hewitt Top Companies for Leaders in North America. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Worldwide, the Yum! Brands system opens over six new restaurants per day on average, making it a leader in global retail development.

Certain statements in this communication contain “forward-looking statements.”  Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.  These statements often include words such as “may,” “will,” “estimate,” “intend,” “seek,” “expect,” “project,” “anticipate,” “believe,” “plan,” “could,” “target,” “predict,” “likely,” “should,” “forecast,” “outlook,” “model,” “ongoing” or other similar terminology.  Forward-looking statements are based on our current expectations, estimates, assumptions or projections concerning future results or events, including, without limitation, the planned Separation of the Yum and Yum China businesses, the timing of any such Separation, the Investment, the closing of the Investment, or the future earnings and performance as well as capital structure of Yum or any of its businesses, including the Yum and Yum China businesses on a standalone basis if the Separation is completed.  Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements.  We cannot assure you that any of our expectations, estimates or projections will be achieved.  Factors that could cause actual results and events to differ materially from our expectations and forward-looking statements are included in reports filed with the SEC by Yum from time to time, including those discussed under the heading “Risk Factors” in our most recently filed reports on Form 10-K and 10-Q.  You should not place undue reliance on forward-looking statements, which speak only as of the date hereof.  We are not undertaking to update any of these statements.

RELEASE NOTICE

The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.

Media Inquiries: please call 502-874-8200

Source: Yum! Brands, Inc.

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Yum! China raised $3 million from employees and customers in China for World Hunger Relief

CHINA, 2016-1-8 — /EPR Retail News/ — Yum! China has wrapped up their 2015 World Hunger Relief campaign with amazing results. KFC, Pizza Hut and East Dawning came together under the powerful theme ‘Love Connects Us All,’ collecting nearly $3 million from employees and customers in China in just two weeks! This tremendous effort will provide over 11 million meals for women and children and shows the Huge Heart of the China team who marked another strong campaign by in their words ‘doing common things uncommonly.’

For more information on World Hunger Relief or to donate visit hungertohope.com.

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Yum! China raised $3 million from employees and customers in China for World Hunger Relief

Yum! China raised $3 million from employees and customers in China for World Hunger Relief