Yum Brands sells Pizza Hut for $2.7 billion, sharpens focus on Taco Bell and KFC
Yum Brands is shedding Pizza Hut after a strategic review, allowing the restaurant giant to concentrate on its faster-growing brands
Yum Brands announced on Tuesday that it is selling Pizza Hut to private equity firm LongRange Capital for $2.7 billion.
The transaction would mark a significant shift for one of America's most recognizable pizza chains and underscores growing consolidation across the restaurant industry as operators navigate slowing consumer demand and higher costs.
A Pizza Hut restaurant in New York. (Michael Nagle/Bloomberg via Getty Images)
Yum said last year it was evaluating strategic alternatives for Pizza Hut, including a potential sale, as the chain worked to reverse a prolonged sales slump.
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