"Yum! Brands"

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Yum! Brands, Inc., Yam Brands is an American food service corporation. Included in the list of 500 largest companies in the United States, according to Fortune magazine (in 2019 on the 494th place). Among others, Yum! is owned by 3 global brands - KFC, Pizza Hut and Taco Bell, under which more than 48,000 restaurants in 140 countries operate; more than 98% of them are franchised. In 2016, operations in China were spun off as an independent company Yum China Holdings. Headquartered in Louisville, Kentucky.

History

The company was formed in 1997 as Tricon Global Restaurants, Inc. by spun off from PepsiCo, which owned the KFC, Pizza Hut and Taco Bell networks.

The oldest chain is KFC, it was founded in 1952 under the name Kentucky Fried Chicken (Kentucky Fried Chicken), in 1986 acquired by PepsiCo (for $840 million) and five years later renamed KFC Corporation.

Pizza Hut was founded in 1958 in Kansas, and by 1971 had become the world’s largest pizzeria chain in terms of both revenue and number of restaurants (more than 1,000); the placement of shares on the New York Stock Exchange in 1972 doubled the number of restaurants and entered foreign markets in five years. In 1977, the chain was absorbed by PepsiCo, becoming the basis of its catering division.

The first Mexican restaurant called Taco Bell opened in 1962 in California, by 1970 the chain of such restaurants reached a turnover of $ 6 million, in 1978 it was bought by PepsiCo for $ 125 million.

In 1997, PepsiCo decided to leave the restaurant business, partly because it did not bring the expected profit, partly because rival chains refused to sell Pepsi-Cola and other products of the corporation. Having gained independence, Tricon Global Restaurants began to transfer restaurants to franchise contracts (in 1999, its own restaurants were 23%, in 2018 – 1.8%), as well as quickly increase its presence abroad, primarily in China, the UK, Mexico and South Korea. In May 2002, the company acquired Yorkshire Global Restaurants, which owned Long John Silver’s and A&W All-American Food. This year, Tricon Global Restaurants changed its name to Yum! Brands, Inc.

In 2003, Yum! announced the launch of the brand, with restaurants under the sign found in the US, Canada, Australia and Cyprus, usually close to Pizza Hut restaurants. The Pasta Bravo concept was bought in 2003 for $5 million. In 2004, a chain of East Dawning cafes was launched in Shanghai. Later Yum! chose to focus on the development of the KFC brand. It is by far the most successful Western network in China. In January 2011, Yum! announced its intention to sell Long John Silver's and A&W brands to bet on the major global chains - Taco Bell, KFC and Pizza Hut.

By 2010, the company had more than 37 thousand restaurants in 100 countries, including the company itself