Pizza Hut Sold for $2.7 Billion Amidst Nostalgia and Decline
The struggling Pizza Hut restaurant chain is being sold by its parent company, Yum Brands, in two separate deals totaling $2.7 billion. Private equity firm LongRange Capital will acquire Pizza Hut’s operations outside of mainland China for approximately $1.5 billion. Concurrently, Yum China Holdings Inc. is purchasing the mainland China Pizza Hut business for about $1.2 billion. This divestiture allows Yum Brands to concentrate on its more successful brands like KFC and Taco Bell, as Pizza Hut has faced challenges with outdated stores and declining sales.
John Q. Hosedrinker