Pizza Hut is a well-known pizza chain that operates in more than 100 countries around the world. The company was founded in 1958 by two brothers, Dan and Frank Carney, in Wichita, Kansas. In 1977, Pizza Hut became a subsidiary of PepsiCo, and later, in 1997, it was spun off into a separate company. Today, Pizza Hut is owned by Yum! Brands, which is the parent organization that also owns KFC and Taco Bell. In this article, we'll take a closer look at Yum! Brands and its subsidiary, Pizza Hut.
Yum! Brands: A Global Powerhouse
Yum! Brands is a multinational fast-food corporation that was founded in 1997. The company is headquartered in Louisville, Kentucky, and operates in more than 150 countries around the world. In addition to Pizza Hut, Yum! Brands also owns KFC and Taco Bell, which are both popular fast-food chains. With a market capitalization of more than $30 billion, Yum! Brands is one of the largest fast-food companies in the world.
The History of Pizza Hut
Pizza Hut was founded in 1958 by two brothers, Dan and Frank Carney, who borrowed $600 from their mother to start the business. The first Pizza Hut restaurant was located in Wichita, Kansas, and it quickly became popular due to its innovative concept of offering a variety of pizzas in a family-friendly atmosphere. By 1966, Pizza Hut had grown to more than 145 restaurants, and in 1977, it was acquired by PepsiCo.
The Growth of Pizza Hut
Under PepsiCo's ownership, Pizza Hut continued to grow rapidly, expanding into new markets both domestically and internationally. By the early 1990s, Pizza Hut had more than 5,000 restaurants worldwide, and it was the largest pizza chain in the world. In 1997, PepsiCo spun off its restaurant division, which included Pizza Hut, KFC, and Taco Bell, into a separate company called Tricon Global Restaurants, Inc.
The Spin-Off of Pizza Hut
In 1997, Pizza Hut became a subsidiary of Tricon Global Restaurants, Inc. The company continued to expand under Tricon's ownership, opening new restaurants in both domestic and international markets. In 2002, Tricon changed its name to Yum! Brands, Inc., and Pizza Hut became one of its three flagship brands, along with KFC and Taco Bell.
The Pizza Hut Brand Today
Today, Pizza Hut is a global brand that operates more than 18,000 restaurants in more than 100 countries around the world. The company's menu has expanded beyond pizza to include a variety of other dishes, such as pasta, wings, and desserts. Pizza Hut has also embraced technology, offering online ordering and delivery services through its website and mobile app. Despite increased competition in the pizza industry, Pizza Hut remains a popular choice for pizza lovers around the world.
The Future of Pizza Hut
As Pizza Hut continues to grow and evolve, the company is focused on expanding its digital capabilities and enhancing its customer experience. In recent years, Pizza Hut has launched new initiatives such as a loyalty program and a partnership with Grubhub to offer delivery through its platform. The company is also exploring new menu items and expanding its presence in international markets. With the backing of Yum! Brands, Pizza Hut is well-positioned to continue its growth and success in the years to come.
