Ken-Taco-Hut n. a fast-food restaurant that combines three Yum! Brands restaurants, KFC (formerly Kentucky Fried Chicken), Taco Bell, and Pizza Hut. Also Kentacohut. Editorial Note: Yum! Brands was spun-off from PepsiCo in 1997. (source: Double-Tongued Dictionary)
Further reading
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What makes you think PepsiCo owns these fast food chains? That is a common misconception but they are all subsidiaries of Yum Brands, Inc.
Yum! Brands Inc., based in Louisville, Kentucky, is the world’s largest restaurant company in terms of system restaurants with nearly 34,000 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.
You’re right: my misunderstanding was that Yum was still wholly owned by PepsiCo, but further digging confirms that it is indeed an independent company. I’ve revised the entry to reflect this. Thanks!