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Pizza Hut, overtaken by the arrival of delivery culture, will be sold for US$2.7 billion
Pizza Hut, the 68-year-old chain that has long struggled with growing competition and outdated restaurants, will be sold for US$2.7 billion by parent company Yum Brands.Yum said Tuesday that the private equity firm LongRange Capital will buy Pizza Hut, excluding the mainland China business, for about $1.5 billion.The mainland China Pizza Hut will be purchased by Yum China Holdings Inc. for approximately $1.2 billion, the company said.China is Pizza Hut’s second-largest market outside the US, accounting for 19% of sales.
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global.chinadaily.com.cn
Yum China set to take control of Pizza Hut brand on mainland
Yum China Holdings is moving to take full ownership of the Pizza Hut brand on the Chinese mainland in a $1.2 billion deal, a strategic shift that would eliminate ongoing royalty…
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apnews.com
Struggling Pizza Hut restaurant chain will be sold for $2.7 billion
Yum! Brands is selling Pizza Hut in two deals worth $2.7 billion. The company said Tuesday that private equity firm LongRange Capital is buying Pizza Hut, excluding the mainland…
