Transactions
Jun. 25, 2002
FAVORITE RESTAURANTS, YUM! TEAM FOR YAN CAN
Yum! Brands Inc. and Favorite Restaurants Group have teamed up to offer Yan Can Restaurant, named after Martin Yan's television cooking show, "Yan Can Cook." The deal closed June 12. The financial terms were not disclosed. Five restaurants are under construction throughout California, with the first one expected to open this month in San Francisco.
Louisville, Ky.'s Yum! owns many well-known restaurant brands, including Pizza Hut Inc., KFC Corp., Taco Bell Corp. and Long John Silver's Restaurants Inc. It operates 32,500 restaurants in 100 countries.
Hong Kong-based Favorite Restaurants operates restaurants throughout Asia, in locations including Hong Kong and Indonesia. The new restaurant will feature Asian food in a fast, casual environment. It will provide take-out, called Yan Can Go, and eat-in, with the average meal costing $7.
Chicago-based McDermott Will & Emery represented Yum! Partner John Tamisiea led the deal team, which included partner Richard Lipton and associate Jake Townsend.
Los Angeles' Gibson Dunn & Crutcher represented Favorite Restaurants. Partner Joseph Barbeau and associate Elizabeth MacDonald handled the deal from Palo Alto.
Partner Keith Gercken of San Francisco's Pillsbury Winthrop served as tax counsel for Favorite Restaurants.
Stefanie Knapp
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