BUSINESSSCMP WORLD
Global brands in China seek local partners amid market squeeze
Pizza Hut, the largest casual dining operator in China, has been sold by US-based Yum! Brands to Shanghai-based Yum China for US$1.2 billion. The transaction aims to help global brands strengthen sales in China's competitive market through local partnerships.
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Adjacent reporting
- Yum Brands is selling Pizza Hut for $2.7 billion to shed its weakest brand
- Pizza Hut is getting the private equity treatment in a $2.7 billion deal as its owner offloads the brand that defined 1990s dining nostalgia
- General Mills sells Häagen-Dazs ice cream stores in China
- Struggling Pizza Hut restaurant chain will be sold for $2.7 billion