Pizza Hut is getting a new owner: private equity firm LongRange buys chain in $1.5 billion deal
AI Summary
Private equity firm LongRange Capital has acquired Pizza Hut in a $1.5 billion deal, marking a significant shift in ownership. Yum! Brands, which also owns KFC and Taco Bell, is selling Pizza Hut to allow it to concentrate on its other brands. LongRange Capital and Yum China will now steer the iconic pizza chain's future. This move is part of a broader strategy to streamline Yum! Brands' portfolio and could have implications for Pizza Hut's menu, marketing, and global expansion plans.
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