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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Pizza Hut, the 68-year-old chain that has long struggled with growing competition and outdated restaurants, will be sold for US$2.7 billion by parent company Yum Brands.Yum said Tuesday that the private equity firm LongRange Capital will buy Pizza Hut,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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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…
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cnbc.com
Yum Brands sells Pizza Hut to private equity firm LongRange Capital and Yum China for $2.7 billion
Yum Brands is selling Pizza Hut, capping off years of struggles for the pizza chain.
