economy
Yum Brands CEO lays out the benefits of selling Pizza Hut
Yum Brands CEO Chris Turner said selling Pizza Hut will allow the company to focus more heavily on Taco Bell and KFC.
TL;DR
- Yum Brands is selling Pizza Hut for roughly $1.5 billion to private equity firm LongRange Capital.
- Yum China will acquire Pizza Hut's mainland China business for approximately $1.2 billion.
- The sale allows Yum Brands to focus resources on growth opportunities in Taco Bell and KFC.
- CEO Chris Turner cited Taco Bell's strong same-store sales growth and international expansion potential.
- KFC is described as a 'powerhouse' brand with significant international momentum.