Pizza Hut set for sale in $2.7 billion deal
The pizza chain is being sold for approximately $2.7 billion following reports of operational challenges. The move follows a period where the brand struggled to compete against delivery apps and other industry rivals.
Amalgamated from Yahoo Finance (opens in new tab), BBC News (opens in new tab), Economic Times (opens in new tab)
The Pizza Hut chain is scheduled to be sold for $2.7 billion, according to reporting from Yahoo Finance and the BBC. The transaction follows a prolonged period of difficulty for the company as it faced increasing pressure from various competitors in the food service sector.
Yahoo Finance reports that the brand has specifically struggled to compete against the rise of delivery applications. The BBC notes that the decision comes after the chain faced competition from a range of rivals over an extended period.