Taco Bell Franchisees To Get $60 Million

<b></b>
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Louisville, Kentucky-Tricon Global Restaurants Inc. said its U.S. Taco Bell restaurant franchisees would receive $60 million for lost business resulting from confusion over genetically modified corn in taco shells.

Tricon said that FRANMAC, an association representing the franchisees, and Tricon reached an agreement under which the suppliers of its taco shells would pay the $60 million to the franchisees. The payment will help the franchisees partially offset lost business.

Tricon has said that Taco Bell restaurants lost business amid customer concern after taco shells containing genetically modified StarLink corn were removed from store shelves. The shells, made by Kraft Foods Inc., were sold under the Taco Bell name. But those shells were not the same as those used at Taco Bell restaurants.

As part of their agreement, FRANMAC, Tricon and the taco shell suppliers will join together to seek damages from those responsible for the introduction of StarLink corn into the U.S. supply chain, the company said. -Reuters

More from Entrepreneur

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.