But in 1997, PepsiCo decided to sell these giant chains off when the company exited the restaurant business. It was a novel and cool feature at the time.īesides buying Pizza Hut, PepsiCo also bought some other well-known restaurants such as KFC and Taco Bell. People in California could submit an order online, which would be forwarded to a store, and then sent to the customer’s home. A thicker crust pizza served in deep pans quickly became a huge hit.Īnd long before Uber Eats, in 1994, Pizza Hut became the first brand to create an online ordering experience. It wasn’t until 1980 that Pizza Hut introduced its famous pan pizza in all of its restaurants. Sales that year reached $436 million, and a new $10 million dollar company headquarters opened in Wichita. Despite the sale, Frank Carney remained the president of Pizza Hut until 1980. Then In 1977, the Carney brothers saw a golden opportunity to sell their business and sold Pizza Hut to PepsiCo for $320 million. Pizza Hut’s stock opened at $11 and closed at $32 - tripling its value on day 1. It seemed like a great time to go public on the New York Stock Exchange and Pizza Hut did just that in 1972. Only a year later, Pizza Hut became the #1 pizza restaurant chain in the world in both sales and number of restaurants - there were over 1,000 Pizza Huts around the globe! It only needed a bit more than a decade to reach this milestone. It also opened the chain’s 500th restaurant in Nashville, Tennessee. In 1970 Pizza Hut opened shops in Germany and Australia. And it proved that people in Kansas craved pizza. It was 1958 and yet there seemed to be no decent pizza in Wichita, Kansas.īrothers Dan and Frank Carney saw that as a business opportunity and borrowed $600 from their mother to open a small pizza shop. From a small hut to delivering pizza into outer space Let’s start in Kansas some 60+ years ago. And that’s what makes this strategy study so interesting. However, these numbers are actually not great by Pizza Hut standards. It invented (or at the very least popularized) the pan pizza and the stuffed crust pizza.Įxcellent customer service, quality pizza, and many novelties helped the brand become a global giant that reached the following numbers in 2020: Pizza Hut is also known for its innovative pizza. It’s considered by many as the original pizza restaurant chain and for decades it was the largest one. Founded in 1958, when “that pizza dish” was getting really popular, it quickly rose to US and worldwide fame. When you think of iconic pizza brands, Pizza Hut simply must be at or near the top of the list.
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