Yum! Brands

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Yum! Brands, Inc., commonly referred to as simply "Yum!", is an American multinational fast-food corporation. As one of the largest food service companies in the world, it operates over 48,000 restaurants across 140 countries, with more than 98% of its establishments being franchised.

The company was formed in 1997 as Tricon Global Restaurants, Inc., a spin-off from PepsiCo. This division consisted of PepsiCo's former fast food restaurant business, which was established after the acquisition of Pizza Hut by PepsiCo in 1977. The spin-off marked a significant shift for Yum! Brands, allowing it to operate independently and focus on expanding its global presence.

Under Tricon Global Restaurants, Yum! Brands began to rapidly increase its international footprint, with a particular emphasis on China, the UK, Mexico, and South Korea. In 1999, the company started transferring restaurants to franchise contracts, which would later become a hallmark of its business model. By 2018, this strategy had resulted in just 1.8% of its own restaurants being owned by Yum! Brands.

In addition to its core brands – KFC, Pizza Hut, and Taco Bell – Yum! Brands has also acquired several other notable restaurant chains over the years. These include California Pizza Kitchen (acquired in 1992), Chevy Fresh Mex (acquired in 1993), D'Angelo Grilled Sandwiches (acquired in 1993), East Side Mario's (acquired in 1993), and Hot'n Now (acquired via Taco Bell from William Van Domelen in 1990).

In May 2002, Yum! Brands acquired Yorkshire Global Restaurants, the parent company of A&W. This acquisition marked a significant milestone for the company, as it solidified its position as one of the world's leading fast-food chains.

One notable aspect of Yum! Brands' operations is its agreement with PepsiCo to serve only Pepsi products in all its restaurants worldwide, except in certain markets such as Israel and New Zealand. This arrangement has been a key factor in the company's success, allowing it to maintain consistency across its global network while also leveraging PepsiCo's extensive distribution channels.

In 2016, Yum! Brands spun off its Chinese operations into an independent company called Yum China Holdings. The company is headquartered in Louisville, Kentucky, and continues to operate under the Tricon Global