Yum Brands Divesting Pizza Hut Business in $2.7B Sale

Yum Brands has announced the sale of pizza chain Pizza Hut in a significant move totaling $2.7 billion, splitting ownership between a U.S. private equity firm and a Chinese operator. The company’s decision includes divesting Pizza Hut’s operations outside mainland China to private equity firm LongRange Capital for about $1.5 billion, while Yum China will acquire the chain’s mainland China business for approximately $1.2 billion. The strategic review leading up to these transactions has concluded that Pizza Hut’s future success would be better served under new ownership. As Yum Brands CEO Chris Turner put it, “Under LongRange and Yum China,…