February 8, 2018 / 11:59 AM / 3 months ago

BRIEF-Yum! Brands To Purchase $200 Mln Of Common Stock From Grubhub

Feb 8 (Reuters) - Grubhub Inc:

* YUM! BRANDS AND GRUBHUB ANNOUNCE NEW U.S. GROWTH PARTNERSHIP

* YUM! TO PURCHASE $200M OF COMMON STOCK FROM GRUBHUB

* ‍PIZZA HUT U.S. PRESIDENT ARTIE STARRS TO JOIN GRUBHUB BOARD OF DIRECTORS AS AN INDEPENDENT DIRECTOR​

* DEAL INITIALLY INCLUDES ONLINE ORDERING FOR PICKUP AND DELIVERY FROM KFC AND TACO BELL RESTAURANTS IN U.S.

* YUM ALSO ENTERED INTO AN AGREEMENT WITH GRUBHUB TO PURCHASE $200 MILLION OF COMMON STOCK

* AS A PART OF PARTNERSHIP, GRUBHUB WILL EXPAND ITS BOARD OF DIRECTORS FROM NINE TO 10 MEMBERS

* SAYS ‍KFC, TACO BELL AND GRUBHUB WILL WORK WITH FRANCHISEES TO TEST AND ROLL OUT ONLINE ORDERING FOR PICKUP AND DELIVERY​

* ‍NEW PARTNERSHIP TO DRIVE INCREMENTAL SALES TO KFC AND TACO BELL RESTAURANTS IN U.S. THROUGH ONLINE ORDERING FOR PICKUP AND DELIVERY​ Source text for Eikon: Further company coverage:

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