Pizza Hut, the chain that raised a generation on its pan pizzas served on red-checkered tablecloths, has a new owner. On Tuesday, Yum Brands said it had agreed to sell the pizza chain to two companies in a combined deal valued at $2.7 billion. The restaurants in the United States and around the world, excluding mainland China, will be acquired by the private equity firm LongRange Capital for $1.5 billion. Yum China, a separate entity, will acquire Pizza Hut’s restaurants in mainland China for $1.2 billion. Yum Brands also owns…
Pizza Hut Sold to Two Firms for $2.7 Billion
