July 24, 1986 |
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.
July 24, 1989 |
In a food-and-beverage-industry version of the domino theory, a high-level executive change at Philip Morris Cos.' General Foods division has led to similar changes at Kraft General Foods, as well as Pepsico Inc. and its Kentucky Fried Chicken Corp. subsidiary. Miles L. Marsh, who served as president of General Foods USA, will move to Whitman Corp. Sept. 1 as president and chief operating officer, according to the company.
February 6, 1987 |
Church's Fried Chicken Inc. the nation's second-largest fried chicken chain, says it has received a request for a meeting to discuss a possible acquisition by Sonic Industries Inc. Richard F. Sherman, president and chief executive of Church's, confirmed Thursday that Sonic has requested the negotiations. Sherman said his company will respond to the request at an unspecified date. Sonic's chief executive, C.