Pizza Hut

History

The chain was founded in 1958 by Dan and Frank Carney. They chose the name "Pizza Hut" since the sign they purchased only had enough space for nine characters and spaces. The Original Pizza Hut building was later relocated to the Wichita State University campus. Additional restaurants were opened, with the first franchise unit opening in 1959 in Topeka,Kansas . At the same time Pizza Hut was growing in and around Kansas, Shakey's Pizza was developing a stronghold along the West Coast. The competition provided Pizza Hut the impetus to evaluate its mission and direction. Dan and Frank Carney saw Shakey's expanding into their territory and realized that they needed to determine if Pizza Hut should be in the entertainment business or if it should be a neighborhood pizza restaurant. They decided to stick with the neighborhood business and realized that they needed to have a good standard image. The Carney brothers contacted Wichita architect Richard D. Burke, who designed the distinctive mansard roof shape and standardized layout, hoping to counter the competition from Shakey's. The franchise network continued to grow through friends and business associates, and by 1964 a unique standardized building appearance and layout was established for franchised and company-owned stores, creating a universal look that customers easily recognized.

By 1972, with 314 stores nationwide, Pizza Hut went public on the New York Stock Exchange under the stock ticker symbol PIZ. In 1978, Pizza Hut was acquired by Pepsico , who later also bought KFC and Taco Bell . In 1997, the three restaurant chains were spun off into Tricon , and in 2001 joined with Long John Silver's and A & W Restaurants to become Yum! Brands. The oldest continuously operating Pizza Hut in the world is in Manhattan, Kansas,in a shopping and tavern district known as Aggieville near Kansas State Universit.