Kirkland & Ellis LLP advised Grubhub Inc. (NYSE: GRUB), the nation's leading online and mobile food ordering company, on its new partnership with Yum! Brands (NYSE: YUM), one of the world’s largest restaurant companies, to drive incremental sales to KFC and Taco Bell restaurants in the U.S. through online ordering for pickup and delivery. The parties also entered into an agreement for YUM to invest $200 million in Grubhub common stock, which is subject to customary closing conditions. As part of the partnership, Pizza Hut U.S. president Artie Starrs will join Grubhub’s board of directors as an independent director. The full press release is available here.
The commercial partnership transaction was led by Technology & IP transactions partners Seth Traxler, Adam Petravicius and associate Matt Darch; with the investment led by corporate partner Ross Leff and associate Marishka DeToy, with assistance from corporate partners Josh Korff, Daniel Wolf and Laura Sullivan.