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Pepsico Agrees to Buy Kentucky Fried Chicken

July 24, 1986|Associated Press

NEW YORK — Pepsico Inc. announced today that it has reached an agreement in principle to purchase Kentucky Fried Chicken Corp. from RJR Nabisco Inc. for about $850 million in cash.

Kentucky Fried Chicken is the second largest restaurant chain in the world--after McDonald's Corp.--with its 6,500 franchised and company-owned restaurants.

Pepsico already operates Pizza Hut and Taco Bell restaurants, in addition to its Pepsi-Cola soft drink and Frito-Lay snack foods businesses.

The combination would create the world's largest restaurant group, with more than 14,000 restaurants.

Pepsico is the No. 2 soft drink maker behind Coca-Cola Co.

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