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

Yum Brands is selling Pizza Hut for about $2.7 billion — LongRange Capital will buy the chain (excluding mainland China) for ~$1.5B, and Yum China will buy the mainland China business for ~$1.2B; the deal is expected to close in Q3.
Pizza Hut has been struggling recently (sales decline, 250 U.S. closures planned) and was called the “weak link” in Yum’s portfolio amid competition from delivery apps and rivals.
Fun fact for small talk: Pizza Hut was started in 1958 with a $600 loan from the founders’ mom, the name fit the sign, and its iconic red roof debuted in 1969.