Nov. 4 (UPI) -- Yum Brands announced Tuesday that it will begin a formal review of strategic options for its subsidiary Pizza Hut.

Yum Brands owns Pizza Hut, KFC and Taco Bell, along with Habit Burger and Grill.

"The intent is for Pizza Hut to reach its full potential for the benefit of its franchisees, consumers and employees, and to maximize value for Yum shareholders," the company said in a press release.

Yum CEO Chris Turner said in the release that the company is confident in Pizza Hut's long-term future.

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