Yum! Brands sells struggling Pizza Hut in $2.7 billion deal

Yum! Brands announced the sale of Pizza Hut in a $2.7 billion deal, dividing ownership between LongRange Capital, a U.S. private equity firm, and a Chinese restaurant company. LongRange Capital will acquire Pizza Hut, excluding its operations in mainland China, for $1.5 billion. Meanwhile, Yum! China will sell Pizza Hut China for $1.2 billion. This strategic move follows Yum! Brands’ exploration of options for Pizza Hut due to declining sales. Founded in 1958 in Wichita, Kansas, Pizza Hut was acquired by PepsiCo in 1977 and later became part of Yum! Brands in 1997. The sale aims to position Pizza Hut for future growth under new ownership with significant expertise in the restaurant industry. QUESTION: How might the change in ownership impact the future of Pizza Hut and its global presence?