business
Struggling Pizza Hut chain to be sold for $2.7bn
Key takeaways
- Francisco Velasquez Business reporter Getty Images Yum!
- Private equity firm Long Range Capital will acquire the brand outside of mainland China for $1.5bn, while Yum China Holdings will buy the mainland China operations for $1.2bn.
- "Under Long Range and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry," said Yum!
Francisco Velasquez Business reporter Getty Images Yum! Brands is selling its struggling Pizza Hut chain in a deal worth $2.7bn (£2bn), the company has announced.
Private equity firm Long Range Capital will acquire the brand outside of mainland China for $1.5bn, while Yum China Holdings will buy the mainland China operations for $1.2bn.
"Under Long Range and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry," said Yum! Brands chief executive Chris Turner.
Article preview — originally published by BBC Business. Full story at the source.
Read full story on BBC Business →
More top stories
Also covered by
Aggregated and edited by the Scoop newsroom. We surface news from BBC Business alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop