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KFC is owned by Yum! Brands.
Brief Facts on KFC.
Kentucky Fried Chicken, also known as KFC is an American fast food restaurant chain that specializes in fried chicken with its headquarters in Louisville Kentucky.
It is the second largest restaurant chain in the world behind McDonald’s with over 24,101 locations around the world in 150 countries.
This chain is a subsidiary of Yum! Brands (the parent company), a restaurant company that also owns the Pizza Hut and Taco Bell chains.
It was founded by Colonel Harland Sanders in North Corbin, Kentucky. It was initially called the Sanders court and Café.
The first franchise opened in Utah in 1952. Sanders however sold the company to a group of investors in 1964 who were led by John Y Brown Jr. and Jack C Massey and he got 2 million dollars and a salary of $40,000 per year. This later rose to $200,000 per year.
The company’s current Chief Executive Officer (CEO) is Sabir Sami, the Chief Operations Officer (COO) is Monica Rothgery, the Chief Marketing Officer (CMO) is Catherine Tan and the Chief Compliance Officer (CCO) is Staci Rawls. The company makes over 28 billion US dollars a year.
So, technically, who owns KFC?
Sanders was the initial owner of the franchise which he opened as a small restaurant in 1929 where he began by cooking food for his family and friends.
He then moved into a 142 seat restaurant. In the 1930s, Colonel Sanders developed a unique method of spicing and pressure frying his chicken.
This recipe became popular fast. In 1952, Sanders signed off his first franchise to Pete Herman who owned a hamburger restaurant in Salt Lake City, Utah.
Sanders took his recipe on the road showcasing it to numerous people and by 1963, the recipe was franchised to more than 600 outlets in the United States and Canada.
He made over $300,000 before taxes. In 1964, he sold the franchise rights (national and international) to a group of investors led by brown and Massey excluding England, Florida, Utah and Montana which Sanders had already apportioned and Canada.
Under the new management, KFC expanded and acquired outlets in all the 50 states in America and extended to Puerto Rico, Mexico, Japan, Jamaica and the Bahamas with over 1500 restaurants and stores.
There were numerous internal struggles escalated by stock plummeting in 1970. In 1971, KFC merged with Heublein, Inc. which was based in Connecticut, USA. In 1986, soft drink giant, PepsiCo, Inc. bought KFC for $840 million.
Pepsi managed the company well and it cultivated a good relationship with the franchisees some of which were unstable when Heublein came into the picture.
In 1990, KFC increased the company owned stores by buying 209 units from Collins foods. In 1996, PepsiCo was having problems with its subsidiaries and decided to bring them together to be managed by a single senior manager.
It brought PizzaHut, Tacobell and KFC together. In 1997, the company decided to spin off this restaurant division into an independent publicly owned company, Tricon Global restaurants, Inc. which is now referred to as Yum! Brands and is no longer part of PepsiCo but an independent company.