Source: CNBC
“Yum Brands on Tuesday announced it is selling Pizza Hut to private equity firm LongRange Capital for roughly $1.5 billion. The deal excludes the pizza chain’s locations in mainland China; Yum China will acquire those in a separate transaction for about $1.2 billion. The deals cap off years of struggles for Pizza Hut, which has weighed on Yum’s overall financial performance. In the U.S., the pizza chain has transitioned from the sit-down format and salad bars of yore to focus on delivery and carryout — far behind the curve. … The deal severs Pizza Hut’s decades-long ties to Taco Bell and KFC, its sister brands in Yum’s portfolio.” (06/16/26)