Struggling Pizza Hut restaurant chain to be sold in two deals worth $2.7bn

Yum! Brands, parent company of KFC and Taco Bell, to sell Pizza Hut as it faces dated stores and growing competition The struggling Pizza Hut restaurant chain will be sold for $2.7bn by parent company Yum! Brands. Yum! Brands said in February that it was considering selling Pizza Hut and the chain looked to close 250 US restaurants. The pizza chain has struggled with outdated stores and growing competition.