The CEO of Yum! Brands, owner of KFC, Pizza Hut and Taco Bell, has a new kitchen to dine in.
David Gibbs paid $8.5 million for a waterfront home in Gulf Stream, property records show. A trust in Patricia Moran’s name sold the 6,401-square-foot house at 550 Middle Road. Moran is the former chair and CEO of JM Family Enterprises, a Deerfield Beach-based auto company that was founded by her father, Jim Moran.
Gibbs purchased the property with his wife, Sharon. He became CEO of Louisville-based Yum! in January of last year, according to its website. Gibbs has been with the company since 1989, and was previously director of the board. Yum! split off from PepsiCo in 1997. It has more than 50,000 restaurants in 150 countries, including franchises.
Pat Moran purchased the five-bedroom, seven-and-a-half-bathroom Gulf Stream home in 2016 for $6.7 million, records show. It was built in 2001 on a 9,001-square-foot lot with 330 feet of deepwater frontage and a 150-foot dock.
The house features a paneled library, three-bay garage and balconies with views of the Intracoastal, according to the listing.
Earlier this year, a trust paid $11 million for an oceanfront home in Gulf Stream. Other recent deals include an heir to McGraw Hill’s $8 million sale and the Flex Seal founder’s $20 million purchase, both of waterfront homes in the high-end town.