LOUISVILLE, Ky. — Investors led by franchisee leaders plan to acquire A&W Restaurants Inc. and Long John Silver’s Inc. restaurants from Yum! Brands Inc.

“We are pleased to announce that we have identified strategic buyers who are passionate about these two great restaurant brands and committed to their growth potential,” said David Novak, chairman and chief executive officer of Yum! Brands. “As we continue to sharpen our long-term growth focus on international expansion and improving our US brand positions in KFC, Pizza Hut and Taco Bell, Long John Silver’s and A&W no longer fit our long-term growth strategy.”

Long John Silver’s will be acquired by LJS Partners LLC, and A&W will be acquired by A Great American Brand LLC. Both acquiring companies will be led by franchisee leaders. The transactions are expected to close during the fourth quarter.