Yum! Brands offloads Pizza Hut for $2.7 B, fueling growth and buybacks
Yum! Brands agreed to sell Pizza Hut—excluding mainland China—to LongRange Capital and Yum China in two transactions worth $2.7 billion. The cash will fund a $4 billion share repurchase program and let Yum focus on its core KFC and Taco Bell brands. The split ownership tailors each market to operators with relevant expertise.