Pizza Hut Sold for $2.7B As Chain Faces Falling Sales
Summary
Pizza Hut is being sold in two deals worth a total of $2.7 billion as the brand faces declining sales and stronger competition. LongRange Capital will buy most of the global business, while Yum China Holdings will purchase the Chinese operations separately.Key Facts
- Pizza Hut is 68 years old and started in Wichita, Kansas, in 1958.
- The global sale price totals approximately $2.7 billion.
- LongRange Capital will buy about $1.5 billion of Pizza Hut’s global business.
- Yum China Holdings will buy the China operations for about $1.2 billion.
- China is Pizza Hut’s second-largest market after the U.S., making up nearly 20% of sales.
- Pizza Hut's global sales dropped 2% last year amid changing consumer habits and more delivery-focused competitors.
- The chain is closing 250 U.S. locations to focus on more modern, profitable sites.
- Pizza Hut has nearly 20,000 restaurants worldwide.
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