Struggling Pizza Hut restaurant chain will be sold for $2.7 billion

Pizza Hut, a once-dominant player in the pizza industry, is being sold by its parent company Yum Brands due to years of competition and declining sales. The chain will be acquired for $2.7 billion, with LongRange Capital purchasing the global operations for $1.5 billion, excluding mainland China. This move signals Yum Brands' shift away from struggling chains to focus on more profitable ventures. The sale could revitalize Pizza Hut by allowing new ownership to implement modern strategies and technologies to attract a younger, more diverse customer base.