Yum! Brands, a world-famous brand in the fast food market, has reportedly decided to sell the world-famous Pizza Hut brand for 2.7 billion US dollars. The decision is said to have been taken due to the severe financial crisis and declining profits that Pizza Hut has been facing in the past.
This large-scale sale is to be carried out in two parts: inside China and outside China. Accordingly, all operations outside China will be purchased by a private company called LongRange Capital for 1.5 billion dollars. Operations in China: Yum China Holdings is to be purchased for 1.2 billion dollars.
International media reports that Pizza Hut’s decline was accelerated by the economic inflation that many countries in the world are facing, with consumers looking for cheaper alternatives, and that rival companies such as Domino’s, Papa John’s, and Little Caesars, as well as many smaller companies entering the pizza market with higher discounts, hastened Pizza Hut’s decline.