Yum Brands Sells Pizza Hut for $2.7 Billion

Yum!

Brands agreed to sell its struggling Pizza Hut chain for $2.7 billion, splitting the business between private equity firm LongRange Capital and Yum China Holdings.

The sale allows Yum to focus on its stronger brands including KFC, Taco Bell, and Habit Burger.

Pizza Hut has been confronting outdated stores and fierce competition in the casual dining space.

Analysts see upside for Yum China following the deal.