Yum! Brands to Sell Pizza Hut for $2.7 Billion
Yum! Brands has entered into definitive agreements to sell Pizza Hut for $2.7 billion. The transaction splits ownership between U.S.-based private equity firm LongRange Capital and Yum China. The Louisville-based conglomerate plans to use the proceeds to fund its AI strategy and has approved a new $4 billion share buyback authorization. The move comes as Pizza Hut struggles with a prolonged demand slump and widespread store closures. Analysts attribute the decline to a shifting delivery culture and increased competition from a bounty of other delivery options. By offloading the chain, Yum! Brands intends to sharpen its strategic focus on its other major brands, KFC and Taco Bell.
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