Yum Brands sells Pizza Hut's U.S. business to private equity firm LongRange Capital for $1.5 billion
By
Rob Wile
Summary
Yum Brands has sold Pizza Hut's U.S. business to private equity firm LongRange Capital for $1.5 billion. LongRange Capital also owns 24 Hour Fitness and Batesville, a funeral home services company that makes caskets and urns. The deal places Pizza Hut under the same corporate umbrella as a gym chain and a death care products company, creating an unusual portfolio of businesses.
Source
bskyYum Brands sells Pizza Hut's U.S. business to private equity firm LongRange Capital for $1.5 billionnbcnews.toKey quotes
· 3 pulledIt may seem like an unlikely combination: Pizza Hut, 24 Hour Fitness and a funeral casket and urn maker.
Pizza Hut's corporate parent, Yum Brands, which also owns Taco Bell and KFC, announced it had sold the chain's U.S. business for $1.5 billion to the private equity group LongRange Capital.
LongRange, incidentally, owns the round-the-clock gym chain, as well as Batesville, a company that services funeral homes with coffins, urns and 'death care' products.
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