Taco Bell founder dead at 86

Bell launched Taco Bell in 1962 in Downey after cutting ties with his business partners and quickly expanding around Los Angeles.

He sold the first Taco Bell franchise in 1964. In 1978, Bell sold his 868 Taco Bell restaurants to PepsiCo for $125 million in stock.

Glen W. Bell Jr., an entrepreneur best known as the founder of the Taco Bell chain, has died. He was 86.

Bell died Sunday at his home in Rancho Santa Fe, according to a statement posted Monday on the Taco Bell Web site.

The Irvine-based company did not release a cause of death.

Taco Bell is now owned by Yum! Brands and is the largest Mexican fast-food chain in the nation, serving more than 36.8 million consumers each week in more than 5,600 U.S. locations.

Bell is survived by his wife, Martha, three sisters, two sons and four grandchildren.