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17 June
Yum Brands continues to finalize the sale of Pizza Hut for $2.7 billion.
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Yum Brands has announced the sale of the struggling Pizza Hut chain for a total of $2.7 billion. The deal will be executed through two separate agreements: LongRange Capital, a private equity firm, will acquire Pizza Hut's international operations outside of China for approximately $1.5 billion, while Yum China Holdings Inc. will purchase the chain's Chinese outlets for about $1.2 billion. This strategic move follows a period of challenges for Pizza Hut, attributed to increasing competition and outdated store formats.
The decision to sell Pizza Hut was made public after Yum Brands expressed intentions to refocus its business efforts on better-performing chains like Taco Bell and KFC. The transaction is expected to close in the third quarter of this year, marking a significant shift in Yum Brands’ portfolio as it addresses ongoing struggles within the Pizza Hut brand.
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