Yum Brands Sells Pizza Hut for $2.7 Billion

Yum!

Brands agreed to sell its struggling Pizza Hut chain to private equity firm LongRange Capital for $2.7 billion, splitting the business in two deals.

The sale allows Yum to focus on KFC, Taco Bell, and Habit Burger as Pizza Hut confronts outdated stores and fierce competition.

LongRange Capital will acquire Pizza Hut's global operations, excluding China, for approximately $1.5 billion, while the China business is sold separately.

The divestiture marks the end of an era for the iconic pizza brand under Yum's ownership.