Pizza Hut to come partly under Chinese ownership

Yum Brands has found buyers for its struggling subsidiary, Pizza Hut. The American investment group LongRange Capital and Yum China Holdings, the Chinese arm of the current owner, will jointly pay $2.7 billion (2.3 billion euros).

“Well positioned for future growth”

Last November, Yum Brands had already announced that it was exploring options for Pizza Hut, as the chain is struggling with outdated restaurants, increasing competition, and declining same-store sales. The fast-food group wants to focus on its Taco Bell and KFC brands, which are still achieving growth.