The former name of Yum! Brands, Inc., before the company's sudden growth and subsequent name change in May of 2002.
Formerly a division of PepsiCo, Tricon Global Restaurants, Inc. (NYSE: YUM), was spun off in 1997 as part of the cola giant's attempt to boost profits and pare down its holdings. The spin-off was presumably part of an overall strategy by PepsiCo to return focus to its core competencies (soft drinks), as it acquired Tropicana in July of the same year while making plans to also spin off its bottling business.
According to its Business.com profile, the Louisville-based corporation's principle activities consisted of operating, developing, franchising, and licensing its system of restaurants, which (prior to 2002) included Taco Bell, Kentucky Fried Chicken, and Pizza Hut. As of the year 2000, Tricon had 1,195 units worldwide with international operations accounting for 29% of revenues.
On March 12, 2002, Tricon announced its intent to acquire the Long John Silver's and A&W All-American Food brands. The company announced the completion of the acquisition (along with a 2-for-1 stock split) on May 16, 2002, and shortly thereafter changed its name to the ridiculous Yum! Brands, Inc., to reflect that the company now held more than three brands. (I suppose it was decided that "Quincon" wasn't as catchy a name.)
Stockholders approved the name change on May 16, 2002.
1. "Can Gen Yers Down Enough Mountain Dew to Lift Pepsi's Stock?" BusinessWeek. 15 Feb 1999.
2. http://www.business.com/directory/food_and_beverage/restaurants_and_foodservice/tricon_global_restaurants/profile/ (22 Jan 2003)
3. Tricon Global Restaurants, "Tricon completes acquisition of Long John Silver's and A&W All-American Food Restaurants to drive multibranding leadership. Company announces 2-for-1 stock split." Press release: 7 May 2002.
4. Tricon Global Restaurants: "Tricon Global Restaurants Shareholders Approve Company Name Change to Yum! Brands, Inc. New Name Reflects Expanded Portfolio of Restaurant Brands and Company's Multibranding Leadership." Press release: 16 May 2002.