Pizza Hut, where sales have lagged with arrival of delivery culture, will be sold for $2.7 billion
Summary
Pizza Hut, a 68-year-old pizza chain owned by Yum Brands, will be sold for $2.7 billion. Yum Brands will sell Pizza Hut's mainland China business separately for about $1.2 billion and the rest to a private equity firm for about $1.5 billion.Key Facts
- Pizza Hut is 68 years old and has been struggling with sales and competition.
- Yum Brands owns Pizza Hut, KFC, and Taco Bell.
- The sale excludes mainland China’s Pizza Hut, which will be bought by Yum China Holdings Inc.
- China is Pizza Hut’s second-largest market after the U.S., making up 19% of sales.
- Last year, Pizza Hut’s sales fell by 2%, while Yum Brands’ overall global sales grew by 5%.
- Yum Brands plans to close 250 U.S. Pizza Hut locations as part of its efforts.
- Pizza Hut has nearly 20,000 restaurants worldwide.
- The sale aims to let Yum Brands focus on its stronger-performing brands.
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