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Pepsi and then YUM bought Pepsi. There are also large companies that own franchises for and  Popeye's, Church's and even KFC along with other brands Taco Bell and such. As I said earlier__confusing.

Here's what Teaman was talking about__independents with franchise rights to sell Kentucky Fried Chicken

https://www.pbase.com/donboyd/image/150926941

 I have worked at McDonalds when I was younger and my checks were not paid by McD's but the franchisee, I understand how they run. Not many big time compianies own their own restraurant and if they do it is in the big places like Chicago etc...