Yum Brands Sells Pizza Hut for $2.7 Billion

Yum!

Brands announced it has agreed to sell its struggling Pizza Hut chain to private equity firm LongRange Capital in two deals totaling $2.7 billion.

The sale separates the main global Pizza Hut business from its China operations, with Yum China paying an additional $1.2 billion to acquire full control of the brand in that market.

Pizza Hut has faced declining sales, widespread store closures, and fierce competition from other fast-food chains in recent years.

The divestiture will allow Yum!

Brands to focus more intensely on its better-performing Taco Bell and KFC brands.