Private equity firm LongRange Capital will acquire Pizza Hut stores in the US and worldwide, and Yum China Holdings will retain the China locations.

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…

Yum Brands is selling Pizza Hut, capping off years of struggles for the pizza chain.