Yum! Brands sells struggling Pizza Hut in $2.7 billion deal
AI Summary
Yum! Brands has sold its struggling Pizza Hut chain in a $2.7 billion deal, dividing ownership between a U.S.-based private equity firm and a Chinese restaurant company. This move reflects Yum's strategy to focus on its more profitable brands like KFC and Taco Bell. The sale underscores the challenges Pizza Hut has faced in recent years, particularly in the competitive fast-food market. The new ownership structure could bring fresh investment and innovative strategies to revitalize the pizza chain's performance.
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