Pizza Hut's U.S. operations sold for $1.7 billion amid market decline
According to The Wall Street Journal, Yum! Brands has agreed to sell Pizza Hut's U.S. business to private equity firm LongRange Capital for $1.7 billion. The WSJ report traces the chain's rise as a dominant American pizza brand and the competitive struggles that led to the sale. Separately, the Journal reports that Pizza Hut's mainland Chinese operations are being sold to Yum China Holdings for $1.2 billion.
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