Yum Brands owns KFC, Pizza Hut, and Taco Bell.
"We don't need to do an acquisition to build scale. We already have scale," David Gibbs, Yum Brands' president and chief financial officer, told Business Insider in December.
Gibbs says he believes scale is becoming increasingly important. For example, the company's scale helped make possible its deal with GrubHub, in which Yum Brands purchased a $200 million stake in the delivery company.
"That's why you're seeing so many other companies go out and try to acquire new concepts just to try and build their own scale," Gibbs said.
Read more: The company behind Taco Bell, KFC, and Pizza Hut hasn't been caught up in the restaurant industry acquisition spree — yet. Here is what the president is looking for.