Yum Brands plans to offload Pizza Hut in two deals worth $2.7bn that it hopes will allow it to focus its efforts on its faster-growing KFC and Taco Bell businesses.
Private equity firm LongRange Capital has agreed a $1.5bn deal with Yum for Pizza Hut, excluding the brand’s mainland China operations. LongRange owns a mix of other businesses, including gym chain 24 Hour Fitness, a funeral services provider and a maker of synthetic diamonds for mining.
Yum China, which spun off from the main company in 2016, will buy Pizza Hut’s Chinese arm for $1.2bn.
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