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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 Opens First Pizza Hut in Iraq
Milestone Spotlights Company’s Expansion in Emerging Markets
LOUISVILLE, KY, April 9, 2014 – Yum! Brands, Inc. (NYSE: YUM) today announced the opening of the first Pizza Hut in Iraq with franchise partner, Al Kout Food Company. The introduction of the first Pizza Hut in Iraq reflects the reach of the world’s largest pizza chain and the Company’s expansion in emerging markets.
“We’re pleased to be able to bring Pizza Hut to Iraq as part of the explosive growth for our brand around the world,” said Scott Bergren, CEO, Pizza Hut and Chief Innovation Officer, Yum! Brands. “While Pizza Hut’s footprint is already significantly larger than our nearest competitor, we’ve still just scratched the surface of global growth. We are taking the powerful Pizza Hut Red Roof icon and accelerating the development of our brand across the Delivery, Express, and Dine-In channels around the world as only we can.” Yum! Brands’ Pizza Hut division has more than 13,000 restaurants in 85 countries, excluding the Yum! China and India divisions. Overall, the Company has nearly 15,000 Pizza Hut units worldwide, making it the world’s largest and most successful pizza brand.
The new restaurant is located in the Kurdistan Region of Northern Iraq in the popular Majidi Mall in Erbil. The restaurant features a full casual dine-in experience for Iraqi consumers with a vibrant, youthful design and seating for 120 people. The menu is in Kurdish and offers a range of appetizers, pizzas and flatbreads, pasta, salads, desserts and drinks.
“Kout Food Group is proud of its partnership with Yum! and the success of launching the first Pizza Hut Dine-In store in Iraq,” said Mrs. Fadwa Al-Homaizi, Managing Director, Al Kout Food Company and Co-founder and Chairwoman, Kout Food Group. “Our utmost priority is to serve our customers with excellent products and services. This is in line with our strategy of expansion in Iraq. More and more customers are visiting the restaurant to test the high-quality Pizza Hut products and to enjoy the dine-in experience.” Iraq-based Al Kout Food Company is owned by Kout Food Group which is located in Kuwait.
Al Kout Food Company plans to open four more Pizza Hut restaurants in Iraq this year including three in Erbil and one in Sulaymaniyah. The franchisee expects that the five restaurants, including the new Pizza Hut, will create more than 150 jobs in the region by the end of the year. Erbil is the capital of the Kurdistan Region and third largest city in Iraq with more than one million people. Sulaymaniyah is the second largest city in the region.
Yum! Brands is the worldwide leader in emerging markets with more than 14,000 restaurants and a nearly two-to-one advantage over the nearest competition. With only two restaurants per million people in the top 10 emerging markets, compared to 58 restaurants per million in the U.S., Yum! believes it is on the ground floor of global growth. The Company and its franchise partners plan to invest $10 Billion and have more than 20,000 restaurants in emerging markets by 2020.
Yum! Brands, Inc., based in Louisville, Kentucky, has over 40,000 restaurants in more than 125 countries and territories. Yum! is ranked #201 on the Fortune 500 List with revenues of over $13 billion and in 2013 was named among the top 100 Corporate Citizens by Corporate Responsibility Magazine. The Company's restaurant brands - KFC, Pizza Hut and Taco Bell - are the global leaders of the chicken, pizza and Mexican-style food categories. Outside the United States, the Yum! Brands system opened over five new restaurants per day, making it a leader in international retail development.
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 2014
July 1, 2014 Yum! Brands Opens First KFC in Bolivia; World’s Most Popular Chicken Chain Expands in Emerging Markets
June 10, 2014 Lift a Life Foundation Mobilizes Nearly 200,000 Students Nationwide with Second Annual “Lead2Feed World Hunger Leadership Challenge” in Partnership with USA TODAY Charitable Foundation; Yum! Brands Foundation Awards Over $250,000 in Grant Prizes to 100 Student Teams For U.S. Hunger Relief Charities
May 1, 2014 Yum! Brands Announces CEO Succession Plan, Becomes Effective on January 1, 2015
April 9, 2014 Yum! Brands Opens First Pizza Hut in Iraq; Milestone Spotlights Company’s Expansion in Emerging Markets
March 31, 2014 Yum! Brands Releases New CSR Report and Declares April “CSR Month”
March 26, 2014 KFC China Launches New Menu and Marketing Strategy Nationwide; Milestone Signifies Next Phase of Company’s Aggressive and Comprehensive Plan to Restage KFC in China
January 9, 2014 Yum! Brands’ World Hunger Relief Efforts Result in Record–Breaking $37 Million in Cash and Food Donations
January 7, 2014 Yum! Brands Appoints Gibbs President of Pizza Hut U.S., Marker as General Manager of KFC U.S.
January 3, 2014 Cricket Fans Take Flight in KFC Australia’s Green & Gold Skybox