Yum Brands announced Tuesday that it is selling Pizza Hut to private equity firm LongRange Capital in a deal worth $1.5 billion. The company had been looking at options for the struggling pizza chain since November.
Pizza Hut was founded in 1958 in Wichita, Kansas, and has almost 20,000 locations around the world. In a separate transaction, Pizza Hut’s mainland China locations are being sold to Yum China for $1.2 billion.
Original reporting: 93.1 WIBC (Indianapolis) — read the source article.
