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News
On-Trade News: Yum! eats 50% of Pizza Hut
The 50% share will be sold to Yum! for £112m. The US-based company already owns the entire Pizza Hut chain in the US, and will now take full ownership in the UK as well.
Whitbread, which owns Premier Travel Inn and Costa Coffee, among others, announced in April that it would be reviewing its interests in the company and focusing more on its core business. Alan Parker, Whitbread chief executive, comments, “Our exit from this joint venture is further evidence of the continuing progress we are making towards becoming a leaner and more focused group.â€
The deal is expected to be finalised by October.
For further acquisition news, see details of Enterprise Inns’ sale of 769 pubs to Admiral Taverns.
© db September 2006