Archmage of ProcrastinationHow do you solve a problem like Pizza Hut?
Struggling Pizza Hut restaurant chain will be sold for $2.7 billion
#pizza #marinara #cheese #crust
https://apnews.com/article/yum-brands-pizza-hut-348bb9ea9f68e559aba6663f2b9e45ac
Pizza Hut to be sold as the craving for a slice is overtaken by a bounty of other delivery options
Pizza Hut, the 68-year-old chain that has long struggled with growing competition and outdated restaurants, will be sold for $2.7 billion by parent company Yum Brands. Yum said Tuesday that the private equity firm LongRange Capital will buy the U.S. business for about $1.5 billion. The mainland China Pizza Hut will be purchased by Yum China Holdings Inc. for approximately $1.2 billion. Pizza Hut has been squeezed in recent years by the growth of DoorDash, Uber Eats and other restaurant delivery companies which marketed access to a slew of cuisines besides pizza. In February, Yum Brands announced plans to close 250 U.S. Pizza Hut locations.
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