Yum to Offload Struggling Pizza Hut Chain for $2.7 Billion (opens original article in a new tab)

Yum! Brands Inc. is selling its struggling Pizza Hut division for $2.7 billion to focus on better-performing KFC and Taco Bell chains, with the deal expected to close in the third quarter.

• Yum! Brands Inc. is selling its Pizza Hut division for $2.7 billion to focus on KFC and Taco Bell chains.
• Private equity firm LongRange Capital will acquire Pizza Hut excluding China for $1.5 billion, with Yum China buying the rest for $1.2 billion.
• Pizza Hut's US business has underperformed peers, with declining revenue share and struggles in menu innovation and customer appeal.