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Yum Manufacturers introduced on Tuesday that it’s promoting Pizza Hut to non-public fairness agency LongRange Capital for $2.7 billion.
The transaction would mark a big shift for one in every of America’s most recognizable pizza chains and underscores rising consolidation throughout the restaurant trade as operators navigate slowing client demand and better prices.
A Pizza Hut restaurant in New York. (Michael Nagle/Bloomberg by way of Getty Photos)
Yum stated final 12 months it was evaluating strategic alternate options for Pizza Hut, together with a possible sale, because the chain labored to reverse a chronic gross sales droop.
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