Spin-off closed
KFC and 2 other brands separation from PepsiCo (1997)
KFC and 2 other brands was separated from PepsiCo as Yum! Brands on 6 October 1997.[1]
PepsiCo spun off its restaurant business as Tricon Global Restaurants, taking KFC, Pizza Hut and Taco Bell out of the drinks and snacks company. PepsiCo had found that operating restaurants competed for capital with its packaged goods brands and complicated its relationships with other chains. Tricon renamed itself Yum! Brands in 2002.
Deal facts
- Announced
- Closed
- Value
- Not recorded
- New owner
- Yum! Brands
- Former parent
- PepsiCo
- Assets
- KFC, Pizza Hut, Taco Bell
- Regulatory review
- None recorded
Ownership changes recorded from this deal
| Owner | Owned | Relationship | Stake | From | To |
|---|---|---|---|---|---|
| PepsiCo | KFC | owns | 100% | 1986-10-01 | 1997-10-06 |
| PepsiCo | Pizza Hut | owns | 100% | 1977-11-01 | 1997-10-06 |
| PepsiCo | Taco Bell | owns | 100% | 1978-01-01 | 1997-10-06 |
| Yum! Brands | KFC | owns | 100% | 1997-10-06 | present |
| Yum! Brands | Pizza Hut | owns | 100% | 1997-10-06 | present |
| Yum! Brands | Taco Bell | owns | 100% | 1997-10-06 | present |
Who owns these brands today?
- KFC — owned by Yum! Brands since 1997
- Pizza Hut — owned by Yum! Brands since 1997
- Taco Bell — owned by Yum! Brands since 1997
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] Yum! Brands, Inc. Annual Report on Form 10-K — SEC EDGAR, SEC Form 10-K; retrieved 6 September 2026.
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