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For your convenience, we have archived all of Yum! Brands' statements and press releases since our company's inception in 1997. To view an archived press release, please select a 'year' or 'brand' from the list above.
Yum! Brands Places Long John Silver’s and A&W All–American Restaurants for Sales
Company sharpens focus for long–term growth on continued expansion at China and Yum! Restaurants International divisions, and building sales layers and innovation at Taco Bell, Pizza Hut and KFC in U.S.
LOUISVILLE, KY, January 18, 2011 – Yum! Brands, Inc. (NYSE:YUM) today announced its plans to place its Long John Silver’s and A&W All–American Food Restaurants for sale, and has begun a process to identify a buyer. The Company is sharpening its long–term growth focus on building leading brands in every significant category in China, driving aggressive international expansion, and improving its U.S. brand positions by building new dayparts and sales layers at Taco Bell, Pizza Hut and KFC.
“Over the past decade, Yum! has delivered annual EPS growth of 13 percent, exceeding our 10 percent annual growth target. This has been driven by aggressively building restaurants in China and Yum! Restaurants International at a pace of nearly four new restaurants every day of the year. We do not believe Long John Silver’s and A&W All–American Food restaurants fit into our long–term growth strategy,” said David C. Novak, Yum! Brands, Inc. Chairman and Chief Executive Officer. “Accordingly, we have decided to put these two great brands up for sale and we will complete the sale only once the right buyer or buyers have been identified and we can ensure a seamless transition.” The Company does not expect the eventual sale to have a material impact to its ongoing earnings or cash flow.
In 1998, when Yum! Brands was spun–off from PepsiCo, 22 percent of its profits were sourced internationally. Today, about 65 percent of the Company’s profits are from the China and Yum! Restaurants International divisions, and the Company expects that percentage to grow to 75 percent by 2015. In the U.S., Taco Bell accounts for approximately 60 percent of the Company’s profits, followed by Pizza Hut and KFC. The Long John Silver’s and A&W All–American Foods Brands account for a total of 1,630 restaurants, all of which are owned and operated by franchisees.
Yum! Brands, Inc., based in Louisville, Ky., is the world’s largest restaurant company in terms of system restaurants with more than 37,000 restaurants in more than 110 countries and territories. The company is ranked #216 on the Fortune 500 List, with revenues of nearly $11 billion in 2009. Four of the company’s restaurant brands – KFC, Pizza Hut, Taco Bell and Long John Silver’s – are the global leaders of the chicken, pizza, Mexican–style food categories and quick–service seafood categories. A&W Restaurants is the longest running quick–service franchise chain in America. Outside the United States, the Yum! Brands system opened more than four new restaurants each day of the year, making it a leader in international retail development. The Company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving, and consistent shareholder returns. In 2007, the Company launched World Hunger Relief, the world–s largest private sector hunger relief effort to raise awareness, volunteerism and funds to benefit the United Nations World Food Programme (WFP) and other hunger relief agencies. To date, this effort has raised nearly $85 million for WFP and other hunger relief agencies and is helping to provide approximately 350 million meals, saving the lives of millions of people in remote corners of the world where hunger is most prevalent.
Yum! Brands Media Relations: 502–874–8200
The releases contained on this page may contain dated information. Readers are cautioned that the releases on this page are maintained here solely for the purposes of providing historical background about Yum! Brands, its business and product offerings. As the releases may contain dated information, they should not be relied upon as providing accurate or current information. Yum! Brands disclaims any intention or obligation to update or revise any of the information contained in any of the releases on this page, whether as a result of new information, future events or otherwise.
Yum! News 2011
December 05, 2011 Yum! Brands Announces Full-Year 2012 Expectations; Raises 2011 EPS Growth Forecast to at least 13%, Excluding Special Items; Will Host Investor Update Meeting Wednesday, December 7, 2011
November 22, 2011 Yum! Brands Reorganizes International Division to Drive Continued Growth; Promotes Micky Pant to Chief Executive Officer of International Division; and Creates Yum! Restaurants India as Separate Division
November 18, 2011 Yum! Brands Inc. Appoints Mirian M. Graddick-Weir to Board; Announces an Additional $750 Million Share-Repurchase Authorization and Declares Quarterly Dividend of $0.285 per Share
November 07, 2011 China’s Ministry of Commerce Approves Yum! Brands Proposal to Acquire China’s Little Sheep Restaurants
September 23, 2011 Yum! Brands, KFC, Pizza Hut and Taco Bell Launch Annual World Hunger Relief with Global Spokesperson Christina Aguilera Lending Her Powerful Voice in New Public Service Announcement
September 22, 2011 Yum! Brands Announces Definitive Agreements to Sell Long John Silver’s and A&W All-American Restaurants to Key Franchisee Leaders
September 20, 2011 Yum! Brands’ World Hunger Relief Effort Reports $67 Million Raised Over Three Years Toward Clinton Global Initiative Commitment; Nearly $85 Million Collected for World Food Programme and Others Since 2007
September 14, 2011 Yum! Brands Inc. Announces 14% Increase In Quarterly Dividend; Seventh Consecutive Double-Digit Increase
August 17, 2011 Yum! Brands Directs First $1 Million of World Hunger Relief Funds to Help Fight Hunger in The Horn of Africa
July 27, 2011 Christina Aguilera Lends Powerful Voice in New Public Service Announcement for Yum! Brands’ World Hunger Relief Effort This Fall
July 20, 2011 Yum! Brands Recognized by BLACK ENTERPRISE'S "40 Best Companies for Diversity" List for Seventh Consecutive Year; Diversity Drives Culture and Business at World's Largest Restaurant Company
May 19, 2011 Yum! Brands Inc. Declares Quarterly Dividend of $0.25 Per Share
May 13, 2011 Proposed Privatization of Little Sheep at HK$6.50 per Scheme Share
April 26, 2011 Yum! Brands Makes Preliminary Proposal to Acquire China’s Little Sheep Restaurants
April 18, 2011 Yum! Brands’ International Division Opens 400th KFC Restaurant in Indonesia; Milestone Spotlights Company’s Growth and Success in Emerging Markets
March 25, 2011 Yum! Brands Inc. Declares Quarterly Dividend of $0.25 Per Share
January 18, 2011 Yum! Brands Places Long John Silver’s and A&W All–American Restaurants for Sale