After nine months on the market, Yum! Brands has finally announced it has found buyers for its Long John Silver’s and A&W restaurant chains.
Seafood chain — and the only place we know of that sold something called Flavorbaked fish — Long John Silver’s will soon be owned by LJS Partners LLC, a company formed by a consortium of franchisee leaders and other investors.
It’s a similar story with A&W, which is being purchased by A Great American Brand LLC, a group formed by a franchisee leader with substantial interests in international A&W restaurants and the National A&W Franchisees Association.
The two deals should be completed in the fourth quarter.
When Yum! announced it was looking to sell these chains last January, the company explained that Long John Silver’s and A&W didn’t fit into its long-term plans and that it wanted to focus on its remaining three brands — KFC, Taco Bell and Pizza Hut — and continued expansion to overseas markets.
It remains to be seen how Yum and the two chains’ new owners will handle existing co-branded eateries that have, for example, both a KFC and a Long John Silver’s.
Yum sells Long John Silver’s, A&W chains [Chicago Tribune]