LOUISVILLE, Ky.--(BUSINESS WIRE)--April 4, 2003--Yum! Brands, Inc. (NYSE:YUM - News) announced today that it has acquired the Pasta Bravo restaurant concept for $5 million from California-based Pasta Bravo, Inc. Pasta Bravo serves made-to-order fresh pastas and salads in restaurants located in Southern California. The acquisition includes the recipes, cooking platform and trademarks of the quick-casual concept, but no restaurant assets. "One of our key strategies is to drive global growth by leading the way in multibranding innovation by providing consumers two brands and more choice in one restaurant location," said David C. Novak, Chairman and CEO, Yum! Brands, Inc. "We began testing Pasta Bravo's outstanding line of fresh pastas in a multibranded format with Pizza Hut late last year. Based on positive results, we determined Pasta Bravo has the potential to be an ideal partner for our global business." The Pasta Bravo concept will be managed by the existing Yum! Brands multibranding team reporting to Aylwin Lewis, President, Chief Multibranding and Operating Officer, Yum! Brands. Yum! Brands, Inc. based in Louisville, Kentucky, is the world's largest restaurant company in terms of system units with nearly 33,000 restaurants in more than 100 countries and territories. 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 and quick service seafood categories, respectively. Since 1919, A&W All-American Food has been serving a signature frosty mug root beer float and all-American pure-beef hamburgers and hot dogs, making it the longest running quick service franchise chain in America. Yum! Brands is the worldwide leader in multibranding, which offers consumers more choice and convenience at one restaurant location from a combination of KFC, Taco Bell, Pizza Hut, A&W All-American Food or Long John Silver's brands. The company and its franchisees operate over 1,900 multibranded restaurants worldwide generating about $2.0 billion in annual system sales. The company and its franchisees have over 1,800 multibranded restaurants in the United States representing nearly 10% of total traditional domestic units. Outside of the United States in 2002, the company and its franchise partners opened about three new restaurants each day of the year, making it one of the fastest growing retailers in the world. In 2002, the company also changed its name to Yum! Brands, Inc. from Tricon Global Restaurants to reflect its expanding portfolio of brands and its ticker symbol on the New York Stock Exchange.
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