Pizza Hut is being sold in a deal worth one-and-a-half-billion dollars. Yum Brands announced Tuesday that the pizza chain is being sold to private equity firm LongRange Capital. This comes after Yum said in November it was looking at options for the struggling pizza chain. In a separate transaction, Pizza Hut’s mainland China locations are being sold to Yum China for one-point-two-billion dollars. Pizza Hut was founded in 1958 in Wichita, Kansas and has almost 20-thousand locations around the world.
***Courtesy of Total Traffic News***
