Glen Bell sold the Taco Bell chain to PepsiCo in 1978 for how much in stock?

Glen Bell sold the Taco Bell chain to PepsiCo in 1978 for $125 million in stock. The deal transferred control of a rapidly expanding Mexican-style restaurant business to one of America’s largest food and beverage corporations.

Bell opened his first Taco Bell restaurant in Downey, California, in 1962, after earlier experience operating hamburger and taco stands. His concept emphasized inexpensive tacos and quick service, helping make Mexican-inspired fast food accessible to a broad American market.

By 1978, Taco Bell had grown to 868 restaurants. Rather than receiving the purchase price entirely as cash, Bell accepted PepsiCo stock. PepsiCo already had major experience in franchised and consumer food businesses, and the acquisition gave Taco Bell the corporate resources to expand nationally and internationally.

The sale is sometimes confused with later Taco Bell ownership changes. PepsiCo eventually placed Taco Bell and its other restaurant holdings into Tricon Global Restaurants in 1997; Tricon later became Yum! Brands. That later corporate history does not change the 1978 transaction or its reported value.