Yum! Brands, Inc. or
Yum! is a
Fortune 500The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
corporationA corporation is a legal entity separate from the shareholders and employees. In British tradition it is the term designating a body corporate, where it can be either a corporation sole or a corporation aggregate...
, that operates or licenses
Taco BellTaco Bell is a restaurant chain based in Irvine, California. A subsidiary of Yum! Brands, Inc., it specializes in Mexican-style food and quick service....
,
KFCKFC Corporation, or KFC, founded and also known as Kentucky Fried Chicken, is a chain of fast food restaurants based in Louisville, Kentucky...
,
Pizza HutPizza Hut is an American restaurant chain and international franchise based in Addison, Texas , offering different styles of pizza along with side dishes including pasta, buffalo wings, breadsticks, and garlic bread...
,
WingstreetWingStreet is a restaurant chain specializing in chicken. It is owned by Yum! Brands.WingStreet restaurants sell breaded and traditional buffalo wings for take-out and delivery. As of September 2008, there were close to 1,600 locations in the U.S., Canada, and Australia. The chain predicted...
, and
Long John Silver'sLong John Silver's, Inc. is a United States-based fast-food restaurant that specializes in seafood. The name and concept were inspired by Robert Louis Stevenson's book Treasure Island.-History:...
restaurants worldwide, and
A&W RestaurantsA&W Restaurants, Inc. is a chain of fast-food restaurants, distinguished by its draft root beer and root beer floats. It is a fast food franchise company with locations throughout the world, serving a typical fast food menu of hamburgers and french fries, as well as hot dogs. A number of its...
(excluding A&W in Canada). Based in
Louisville, KentuckyLouisville is Kentucky's largest city and county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's estimated population as of 2008 was 713,877 , with a population of 1,244,696 in the Louisville...
, it is the world's largest
fast foodFast food is the term given to food that can be prepared and served very quickly. While any meal with low preparation time can be considered to be fast food, typically the term refers to food sold in a restaurant or store with low quality preparation and served to the customer in a packaged form...
restaurantA restaurant prepares and serves food and drink to customers. Meals are generally served and eaten on premises, but many restaurants also offer take-out and food delivery services...
company in terms of system units—over 36,000 restaurants around the world in more than 110 countries and territories. In 2008, Yum!'s global
salesSystem sales is a business term used in the franchising industry. Franchisors provide supplies, marketing and administration services to franchisees in return for a part of the franchisees' revenues. Some franchisors also operate some outlets directly. System sales represents the total sales of all...
totaled more than
US$The United States dollar is the unit of currency of the United States. The U.S. dollar is normally abbreviated as the dollar sign, $, or as USD or US$ to distinguish it from other dollar-denominated currencies and from others that use the $ symbol. It is divided into 100 cents .The U.S...
11 billion.
Yum! Brands Canada is based in
Vaughan, OntarioVaughan is a city in York Region north of Toronto, Ontario, Canada. Vaughan is one of the fastest growing municipalities in Canada, having nearly doubled in population since 1991. Vaughan is located in Southern Ontario and is part of the Greater Toronto Area...
.
Yum! was created on October 7, 1997, as
Tricon Global Restaurants, Inc. an independent company, as a result of a
spin-offA spin-off is a new organization or entity formed by a split from a larger one, such as television series based on a pre-existing one, or a new company formed from a university research group or business incubator...
from PepsiCo, which owned and franchised the KFC, Pizza Hut and Taco Bell brands worldwide.
Yum! Brands, Inc. or
Yum! is a
Fortune 500The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
corporationA corporation is a legal entity separate from the shareholders and employees. In British tradition it is the term designating a body corporate, where it can be either a corporation sole or a corporation aggregate...
, that operates or licenses
Taco BellTaco Bell is a restaurant chain based in Irvine, California. A subsidiary of Yum! Brands, Inc., it specializes in Mexican-style food and quick service....
,
KFCKFC Corporation, or KFC, founded and also known as Kentucky Fried Chicken, is a chain of fast food restaurants based in Louisville, Kentucky...
,
Pizza HutPizza Hut is an American restaurant chain and international franchise based in Addison, Texas , offering different styles of pizza along with side dishes including pasta, buffalo wings, breadsticks, and garlic bread...
,
WingstreetWingStreet is a restaurant chain specializing in chicken. It is owned by Yum! Brands.WingStreet restaurants sell breaded and traditional buffalo wings for take-out and delivery. As of September 2008, there were close to 1,600 locations in the U.S., Canada, and Australia. The chain predicted...
, and
Long John Silver'sLong John Silver's, Inc. is a United States-based fast-food restaurant that specializes in seafood. The name and concept were inspired by Robert Louis Stevenson's book Treasure Island.-History:...
restaurants worldwide, and
A&W RestaurantsA&W Restaurants, Inc. is a chain of fast-food restaurants, distinguished by its draft root beer and root beer floats. It is a fast food franchise company with locations throughout the world, serving a typical fast food menu of hamburgers and french fries, as well as hot dogs. A number of its...
(excluding A&W in Canada). Based in
Louisville, KentuckyLouisville is Kentucky's largest city and county seat of Jefferson County. Since 2003, the city's borders have been coterminous with those of the county because of a city-county merger. The city's estimated population as of 2008 was 713,877 , with a population of 1,244,696 in the Louisville...
, it is the world's largest
fast foodFast food is the term given to food that can be prepared and served very quickly. While any meal with low preparation time can be considered to be fast food, typically the term refers to food sold in a restaurant or store with low quality preparation and served to the customer in a packaged form...
restaurantA restaurant prepares and serves food and drink to customers. Meals are generally served and eaten on premises, but many restaurants also offer take-out and food delivery services...
company in terms of system units—over 36,000 restaurants around the world in more than 110 countries and territories. In 2008, Yum!'s global
salesSystem sales is a business term used in the franchising industry. Franchisors provide supplies, marketing and administration services to franchisees in return for a part of the franchisees' revenues. Some franchisors also operate some outlets directly. System sales represents the total sales of all...
totaled more than
US$The United States dollar is the unit of currency of the United States. The U.S. dollar is normally abbreviated as the dollar sign, $, or as USD or US$ to distinguish it from other dollar-denominated currencies and from others that use the $ symbol. It is divided into 100 cents .The U.S...
11 billion.
Yum! Brands Canada is based in
Vaughan, OntarioVaughan is a city in York Region north of Toronto, Ontario, Canada. Vaughan is one of the fastest growing municipalities in Canada, having nearly doubled in population since 1991. Vaughan is located in Southern Ontario and is part of the Greater Toronto Area...
.
History
Yum! was created on October 7, 1997, as
Tricon Global Restaurants, Inc. an independent company, as a result of a
spin-offA spin-off is a new organization or entity formed by a split from a larger one, such as television series based on a pre-existing one, or a new company formed from a university research group or business incubator...
from PepsiCo, which owned and franchised the KFC, Pizza Hut and Taco Bell brands worldwide. Because of the company's previous relationship with Pepsi, Yum! Brands has a lifetime contract with PepsiCo, with notable exceptions being the contract of A&W Restaurants with
Dr Pepper Snapple GroupDr Pepper Snapple Group Inc. is an American soft beverages drink company, which was spun off from Britain's Cadbury Schweppes, on May 5, 2008, with trading in its shares starting on May 7, 2008...
to be the exclusive restaurant provider of
A&W Root BeerA&W Root Beer is a root beer franchise in the United States and Canada that was started in 1919 by Roy Allen. In 1922, Allen partnered with Frank Wright. They combined their initials to create the brand "A&W" and inspired a restaurant chain in 1922. The first A&W root beer drinks were sold for five...
, and the contracts of franchisees such as HMSHost and college-operated locations with
Coca-ColaCoca-Cola is a carbonated soft drink sold in stores, restaurants and vending machines internationally. The Coca-Cola Company claims that the beverage is sold in more than 200 countries...
which override Yum's lifetime PepsiCo contract.
Yum! president, David C. Novak became
chief executive officerA chief executive officer or chief executive is one of the highest-ranking corporate officers or administrators in charge of total management...
on January 1, 2000 and
chairman of the boardA board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. The body sometimes has a different name, such as board of trustees, board of governors, board of managers, or executive board...
on January 1, 2001. Novak is a member of the Yum! executive/finance committee and is a director of J.P. Morgan Chase.
In March 2002, Tricon announced the acquisition of
Lexington, KentuckyLexington is the second-largest city in Kentucky and the 65th largest in the United States. Known as the "Thoroughbred City" and the "Horse Capital of the World", it is located in the heart of Kentucky's Bluegrass region...
-based Yorkshire Global Restaurants, owner of the Long John Silver's and
A&W All-American FoodA&W Restaurants, Inc. is a chain of fast-food restaurants, distinguished by its draft root beer and root beer floats. It is a fast food franchise company with locations throughout the world, serving a typical fast food menu of hamburgers and french fries, as well as hot dogs. A number of its...
chains and its intention to change the company's name to Yum! Brands, Inc. In May 16, 2002, the name change became effective after a vote during the company's annual shareholders meeting, and on June 17, 2002, Yum! executed a two-for-one
stock splitA stock split or stock divide increases or decreases the number of shares in a public company. The price is adjusted such that the market capitalization of the company remains the same after the split, so that dilution does not occur...
. Shortly afterwards, due to Yum!'s lifetime contract with Pepsi, Long John Silver's and A&W Restaurants (both of which previously served Coca-Cola) switched to Pepsi products once their franchises contracts expired, with A&W retaining A&W Root Beer from a separate deal with Dr Pepper Snapple Group.
In 2004 and 2005, Yum! Brands was the target of boycotts by the
American Decency AssociationThe American Decency Association is a non-profit organization associated with the Christian Right based in Fremont, Michigan. Their principle cause is against pornography and “indecent” media....
for its advertising on what it calls "trashy shows" and by the Organic Farmers & Gardeners Union for alleged "sweatshop conditions" among farm workers.
The growth of Yum! Brands throughout the United States has slowed from its previous rapid expansion. This is due to the fact that the chain has saturated most of the domestic market. The future growth of Yum! Brands is targeted mainly at foreign areas, such as China, where populations are enjoying increases in income.
Brands
- A&W Restaurants
A&W Restaurants, Inc. is a chain of fast-food restaurants, distinguished by its draft root beer and root beer floats. It is a fast food franchise company with locations throughout the world, serving a typical fast food menu of hamburgers and french fries, as well as hot dogs. A number of its...
(global, except CanadaCanada is a country occupying most of northern North America, extending from the Atlantic Ocean in the east to the Pacific Ocean in the west and northward into the Arctic Ocean...
)
- KFC / Kentucky Fried Chicken
KFC Corporation, or KFC, founded and also known as Kentucky Fried Chicken, is a chain of fast food restaurants based in Louisville, Kentucky...
(global)
- Pizza Hut
Pizza Hut is an American restaurant chain and international franchise based in Addison, Texas , offering different styles of pizza along with side dishes including pasta, buffalo wings, breadsticks, and garlic bread...
(global)
- Taco Bell
Taco Bell is a restaurant chain based in Irvine, California. A subsidiary of Yum! Brands, Inc., it specializes in Mexican-style food and quick service....
(global)
- WingStreet
WingStreet is a restaurant chain specializing in chicken. It is owned by Yum! Brands.WingStreet restaurants sell breaded and traditional buffalo wings for take-out and delivery. As of September 2008, there were close to 1,600 locations in the U.S., Canada, and Australia. The chain predicted...
(United States and Canada)
- Long John Silver's
Long John Silver's, Inc. is a United States-based fast-food restaurant that specializes in seafood. The name and concept were inspired by Robert Louis Stevenson's book Treasure Island.-History:...
(United StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
, Puerto RicoPuerto Rico , officially the Commonwealth of Puerto Rico , is a self-governing unincorporated territory of the United States located in the northeastern Caribbean, east of the Dominican Republic and west of the Virgin Islands...
, TaiwanTaiwan , also known as Formosa , is the largest island of the Republic of China in East Asia. Taiwan is located east of the Taiwan Strait, off the southeastern coast of mainland China...
, New ZealandNew Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses , and numerous smaller islands, most notably Stewart Island/Rakiura and the Chatham Islands. The indigenous Māori named New Zealand Aotearoa, commonly translated as The Land of the Long White Cloud...
, AustraliaAustralia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the continental mainland , the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans...
and SingaporeSingapore , officially the Republic of Singapore, is an island city-state located at the southern tip of the Malay Peninsula, lying north of the equator, south of the Malaysian state of Johor and north of Indonesia's Riau Islands. At , Singapore is a microstate and the smallest nation in Southeast...
)
- Dong Fang Ji Bai
Dong Fang Ji Bai is Yum! Brands' fusion of the KFC business model with Chinese cuisine. Chinese food is served exclusively, but the chain focuses on the elements of Chinese cuisine that are more quickly and easily prepared. This excludes some dishes, such as dumplings. Soft drinks are eschewed in...
(East Dawning) (People's Republic of ChinaThe People's Republic of China , commonly known as China, is the largest country in East Asia and the most populous in the world with over 1.3 billion people, approximately one-fifth of the world's population...
)
See also
- Priszm Income Fund
Priszm LP is the largest operator of Canadian fast food restaurants. The Priszm Income Fund , an income trust, owns 60.2% of Priszm; the remainder is owned by John Bitove....
— owns the Canadian franchiseFranchising is the practice of using another person's business model. The franchisor grants the independent operator the right to distribute its products, techniques, and trademarks for a percentage of gross monthly sales and a royalty fee...
s for all Yum! divisions except for A&W and Dong Fang Ji Bai.
External links