Pizza Hut, overtaken by the arrival of delivery culture, will be sold for $2.7 billion - ABC News

Parent company Yum Brands has agreed to sell the Pizza Hut chain in two transactions totaling $2.7 billion. Private equity firm LongRange Capital will acquire the global brand, excluding mainland China, for approximately $1.5 billion, while Yum China Holdings Inc. will buy the mainland China division for $1.2 billion. The sale follows years of underperformance for the 68-year-old brand, which has struggled to transition from its legacy dine-in format to modern digital delivery systems dominated by Domino's and third-party delivery apps.