Pizza Hut’s strange new private equity bedfellows: 24 Hour Fitness and a ‘deathcare’ firm (opens original article in a new tab)

Yum Brands sold Pizza Hut's U.S. business to private equity firm LongRange Capital for $1.5 billion, joining 24 Hour Fitness and a funeral services company in its portfolio.

• Yum Brands sold Pizza Hut's U.S. business to LongRange Capital for $1.5 billion
• LongRange Capital also owns 24 Hour Fitness and a funeral services company
• Pizza Hut's market share has declined from 19% to 15% since 2019
• Private equity firms' track records in turning around businesses are mixed
• LongRange's management has experience in consumer food businesses
• Some studies link private equity acquisitions to negative outcomes in healthcare sectors