Yum Brands, owner of multiple globally recognized restaurant franchises, said on Nov. 4 it was initiating a formal review of strategic options for Pizza Hut, opening the door to a potential sale of the struggling fast-food chain.
Yum Brands, based in Louisville, Kentucky, said in a statement that the intention of the review proceedings is to explore ways to maximize value for the Pizza Hut brand and its franchisees, as well as for Yum shareholders.
Although the company stopped short of saying what those options might look like, CEO Chris Turner said the brand might benefit from a different parent company.
“The Pizza Hut team has been working hard to address business and category challenges; however, Pizza Hut’s performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum Brands,” Turner said….