Yum! Brands mulls sale of Pizza Hut

Goldman Sachs and Barclays were appointed as financial advisers.

Yum! Brands, Inc. has announced a ‘formal review of strategic options for the Pizza Hut brand’.

Chris Turner, CEO of Yum! Brands said 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 realise its full value, which “may be better executed outside of Yum! Brands,” Turner said.

Yum! Brands said it has not set a deadline or definitive timetable for the completion of the strategic options review, and there can be no assurance this review will result in any specific outcome or transaction.

The company does not intend to comment or make further announcements unless it determines that further disclosure is appropriate or necessary.