- Yum China Holdings Inc (NYSE:YUMC) and Luigi Lavazza S.p.A. (Lavazza) have announced plans to accelerate the expansion of the store network of Lavazza cafés in China through the existing joint venture.
- The alliance is aiming to open 1,000 stores by 2025. The parties will inject $200 million initially into the joint venture to fund its future growth.
- The joint venture is expected to be Lavazza’s exclusive distributor in mainland China to introduce more products from Lavazza’s portfolio.
- The joint venture, formed in early 2020, is 65% owned by Yum China and 35% by Lavazza.
- Price Action: YUMC shares are trading higher by 2.90% at $56 on the last check Thursday.
RBC Capital Maintains Sector Perform on Arthur J. Gallagher, Raises Price Target to $182
RBC Capital analyst Mark Dwelle maintains Arthur J. Gallagher (NYSE:AJG) with a Sector Perform and raises the price target from $160 to $182.
