Who owns Pizza Hut

by / ⠀Who Owns / November 27, 2023
Who Owns Pizza Hut

Who Owns Pizza Hut? The company is owned by Yum! Brands Inc., a large multinational corporation that also owns other popular fast-food chains like KFC and Taco Bell. Yum! Brands was formed in 1997 as a subsidiary of PepsiCo, and after its spin-off in 2002, it became an independent company. The headquarters of Yum! Brands is based in Louisville, Kentucky, in the United States. Since becoming an independent company, it has grown to have thousands of restaurant locations and franchises across the globe.

Company History

Pizza Hut was founded by brothers Dan and Frank Carney on June 15, 1958, in Wichita, Kansas, United States. The Carney brothers borrowed $600 from their mother to open the first location and started the business while they were still students at Wichita State University. They initially named the restaurant “Pizza Hut” due to the limited space on the sign. As the business grew, the Carneys began franchising their concept in 1959. Pizza Hut became a popular and fast-growing pizza restaurant chain throughout the United States. The Carney brothers incorporated their company as Pizza Hut, Inc. in 1962.

In 1977, PepsiCo, a multinational food and beverage company, acquired Pizza Hut, making it a wholly-owned subsidiary. Under PepsiCo’s ownership, Pizza Hut continued to expand internationally and diversify its menu by adding options like Pan Pizza, Thin ‘n Crispy Pizza, and Stuffed Crust Pizza. PepsiCo also owned two other restaurant chains, Taco Bell and KFC, which were collectively known as the Tricon Global Restaurants division. In 1997, PepsiCo decided to restructure its business, spinning off its restaurant division as an independent company. As a result, Tricon Global Restaurants, Inc. was formed, which included Pizza Hut, Taco Bell, and KFC under its operation. Tricon Global Restaurants continued its expansion and in May 2002, it acquired the Long John Silver’s and A&W Restaurants chains.

On May 16, 2002, Tricon Global Restaurants, Inc. changed its name to Yum! Brands, Inc. Today, Yum! Brands is the world’s largest restaurant company in terms of system restaurants, with over 50,000 locations in more than 150 countries and territories. Pizza Hut is one of their primary business units, alongside Taco Bell, KFC, and other acquired restaurant chains. In summary, Pizza Hut was founded by the Carney brothers in 1958, became a subsidiary of PepsiCo in 1977, and then became a part of Yum! Brands, Inc. in 1997 after PepsiCo spun off its restaurant business. The current owner of Pizza Hut is Yum! Brands, Inc.

Who was the original founder?

Pizza Hut was originally founded by two brothers, Dan and Frank Carney, in 1958. They were both students at Wichita State University in Kansas. Dan Carney was born on November 20, 1931 (d. December 16, 2020) in Wichita, Kansas, while Frank Carney was born on April 26, 1938 (d. December 2, 2020) in Wichita, Kansas as well. They both grew up in a big family with their 10 siblings.

Their father was a grocery store manager, and their mother was a homemaker. The Carney brothers borrowed $600 from their mom to open the first Pizza Hut location in a small brick building in Wichita, Kansas. This startup location was also partly inspired by a friend’s suggestion that they should open a pizzeria, as there was a lack of pizzeria establishments in the city. Initially, Dan was pursuing a business degree, and Frank was an engineering student. While looking for a part-time job to support their studies, they started Pizza Hut instead. It went on to become one of the most successful pizza chains globally.

Their business model was simple as they focused on offering fresh, quality pizzas. They used high-quality ingredients and served their pizzas in a fun and welcoming environment. Their hard work paid off, and eventually, Pizza Hut expanded to have thousands of locations worldwide. In 1977, the Carney brothers sold Pizza Hut to PepsiCo for $300 million. After leaving Pizza Hut, they both went on to engage in various other business ventures. Despite selling the business, the legacy of the Carney brothers remains closely tied to the beginnings of Pizza Hut.

FAQ – Who Owns Pizza Hut

Who is the current owner of Pizza Hut?

The current owner of Pizza Hut is Yum! Brands, a multinational restaurant company that also owns KFC and Taco Bell. Yum! Brands was formerly a subsidiary of PepsiCo until it was spun off in 1997.

When was Pizza Hut founded?

Pizza Hut was founded on June 15, 1958, in Wichita, Kansas, by brothers Dan and Frank Carney.

How many Pizza Hut locations are there?

As of 2021, there are over 18,000 Pizza Hut locations worldwide, making it one of the largest pizza chains in the world.

What is Pizza Hut’s most famous menu item?

Pizza Hut’s most famous menu item is their stuffed crust pizza, which was introduced in 1995. The stuffed crust pizza features a ring of cheese-filled dough around the perimeter of the pizza and has become a signature offering of the brand.

What countries have Pizza Hut locations?

Pizza Hut has expanded globally and now has locations in over 100 countries, including the United States, Canada, Mexico, the United Kingdom, China, India, Australia, and many more.

Does Pizza Hut offer delivery?

Yes, Pizza Hut offers delivery services in many locations. Customers can place orders online or via the Pizza Hut app and have their pizza delivered right to their doorstep. Delivery options and fees may vary by location.

Sources for More Information

 

Featured image provided by cottonbro studio; Pexels; Thanks!

About The Author

Editorial Team
x