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Incoming CEO of Taco Bell's parents "would not exclude" an acquisition



David Gibbs

Stefanie Smith | CNBC

The incoming CEO of Taco Bell's parent company Yum Brands does not exclude adding another brand to the restaurant portfolio.

"We don't need an acquisition to grow," incumbent CEO David Gibbs told analysts on Wednesday's conference call. "Our brands today are strong in general across the world, with many growth opportunities, but we certainly will not rule out an acquisition."

Gibbs, who currently serves as Yum's chief of staff, will replace retiring CEO Greg Creed in January. Gibbs said he would share more of his plans for growth in 2020 when he takes the helm.

In recent history, Yum's agreements have been related to technology. In December, Pizza Hut announced the acquisition of QuikOrder, the e-commerce platform it had already used to process some US sales. Back then, Yum said it was one of the biggest acquisitions to date. Last year, it also purchased a 3% stake in third-party provider GrubHub.

Its GrubHub investment weighed Yum's profit for the third quarter after KFC's parent company changed the fair value of the investment. Shares plunged 1

0% in morning trading.


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