Pizza Hut, overtaken by the arrival of delivery culture, will be sold for $2.7 billion
This Dec. 15, 2016, file photo shows a Pizza Hut restaurant in New Orleans. (AP Photo/Gerald Herbert, File)
Pizza Hut, the 68-year-old chain that has long struggled with growing competition and outdated restaurants, will be sold for $2.7 billion by parent company Yum Brands.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 Brands said Tuesday that the private equity firm LongRange Capital will buy Pizza Hut, excluding the mainland China business, for about $1.5 billion.
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