Yum! Brands: The Company Behind Pizza Hut, KFC, and Taco Bell

Yum! Brands oversees some of the world's most beloved and recognizable fast-food chains. What began as a strategic expansion within PepsiCo has since evolved into a global group with more than 61,000 restaurants across 155 countries. In this article, we take a closer look at Yum!'s journey, its iconic brand lineup, and the role technology plays in its continued growth.

• PepsiCo roots: Yum! Brands traces its origins back to PepsiCo's expansion into the restaurant industry, starting with the acquisition of Pizza Hut in 1977.

• Three major brands: While its brand portfolio has evolved over time, its three cornerstone names – Pizza Hut, KFC, and Taco Bell – have remained at the heart of its business.

• Franchise model: Today, over 98% of Yum!'s restaurants are operated by franchisees.

While some of Yum! Brands' restaurants have deeper roots, the company's own history began in 1977 under the umbrella of PepsiCo. At the time, PepsiCo was about a decade into diversifying beyond beverages, having merged with Frito-Lay in 1965. Building on that success, it ventured into the restaurant business, starting with the acquisition of Pizza Hut. Just a year later, in 1978, Taco Bell joined the lineup. The trio was completed in 1986 when PepsiCo acquired KFC.

With these three major brands in hand, PepsiCo continued to grow its restaurant portfolio by acquiring a handful of regional chains. However, in 1997, the company announced plans to spin off parts of its restaurant division, focusing instead on its core beverage and snack businesses. The spin-off was finalized in October of that year, giving birth to a new, independent company: Tricon Global Restaurants – consisting of the aforementioned trio.

At the time of its spin-off from PepsiCo, Tricon Global Restaurants operated nearly 30,000 locations across more than 100 countries. With around 9,000 restaurants outside the U.S., it ranked second only to McDonald's in international reach.

A few years later, in 2002, Tricon expanded its portfolio by acquiring Yorkshire Global Restaurants, bringing Long John Silver's and A&W Restaurants under its umbrella. These two brands remained part of the company for nearly a decade before eventually being divested. The more lasting milestone, however, came alongside the Yorkshire acquisition. Tricon Global Restaurants officially rebranded as Yum! Brands – a name that has stuck ever since.

Since its separation from PepsiCo in 1997, Yum! Brands has seen numerous shifts in its brand portfolio through both acquisitions and divestitures. Despite the changes, its three core pillars – Pizza Hut, KFC, and Taco Bell – have remained the foundation of the business.

Operationally, Yum! has experienced remarkable growth, expanding to more than 61,000 restaurants across over 155 countries and territories. This scale places it among the largest fast-food chains in the world by number of locations, surpassing giants like McDonald's, Domino's, and Starbucks.

Back in 1997, roughly half of its restaurants were operated by franchisees. Fast forward to 2025, and that figure has grown to 98%, with just 2% of locations owned and operated by the company itself. Alongside this franchise-driven model, Yum! has grown its system sales from $24 billion in 2002 to $65 billion today.

Of Yum! Brands' more than 60,000 restaurants, over half operate under the KFC banner, making it the largest brand in the portfolio by footprint. Pizza Hut accounts for approximately 20,000 locations, while Taco Bell runs just under 9,000. Rounding out the group is The Habit Burger Grill, a fast-casual burger chain acquired in 2020, which currently operates close to 400 locations.

A visualization of the businesses of Yum! Brands four franchises.

A visualization of the businesses of Yum! Brands four franchises.

In 2020 and 2021, Yum! Brands made a series of strategic acquisitions focused on technology, targeting companies specializing in order management, delivery logistics, and AI-powered consumer insights. These technologies are now being unified and integrated across Yum!'s restaurant brands under a single platform called Byte.

By bringing these capabilities in-house rather than relying on multiple third-party vendors, Yum! aims to deliver best-in-class technology more efficiently and at a lower cost. The strategy is also designed to streamline operations and create a more seamless experience for both customers and franchisees.

Further reading: David Gibbs: CEO of Yum! Brands

Since its early days as a subsidiary of PepsiCo, much has changed in the structure and strategy behind what is now Yum! Brands. The company has evolved from the broad ambitions of Tricon Global into a more focused and technology-driven restaurant group. What hasn't changed, however, is the enduring success of its three flagship brands.

Together, these brands offer something for just about everyone, covering a full week's cravings from pizza to tacos, fried chicken to burgers – all within the Yum! Brands family.