Pizza Hut Sold for $2.7B As Chain Faces Falling Sales

PepsiCo acquired the chain in 1977 but spun off its restaurant division – which became Yum Brands – in 1997.

Brands launched a strategic review to explore options for Pizza Hut in November

Yum Brands is selling its Pizza Hut businesses in and outside of China for a combined $2.7 billion.

Yum China, the operator of KFC and Pizza Hut in mainland China, will pay US$1.2 billion to acquire ownership of the Pizza Hut business in the market, deepening its separation from US restaurant giant Yum!