Pizza Hut is officially being sold — and it's a $2.7 billion split 🍕 Yum Brands, which also owns KFC and Taco Bell, is offloading the 68-year-old pizza chain after years of struggling to keep up with the competition. Private equity firm LongRange Capital is picking up the global business for $1.5 billion — while Yum China is separately buying the Mainland China locations for $1.2 billion. And the numbers tell the whole story: last year Yum Brands' global sales rose 5%, but Pizza Hut's sales actually fell 2%. The chain also announced plans to close 250 U.S. locations back in February and nearly 20,000 restaurants worldwide. #PizzaHut #YumBrands #PrivateEquity #BusinessNews