Arbys: Changing the World:
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The private equity billionaire who revived Arby's is on a mission to restore Pizza Hut to greatnessPizza Hut helped invent modern pizza delivery, but
now it needs saving from the very delivery revolution it helped spark.
After nearly 50 years under the same corporate ownership, one of America's most recognizable
restaurant brands is changing hands in a $2.7 billion deal that could determine whether Pizza Hut thrives in the age of DoorDash and Uber Eats - or continues to lose ground to rivals.
The buyer leading that rescue mission is Bob Berlin, the private-equity veteran credited with helping revive Arby's from a struggling fast-food chain into one of the industry's most successful turnaround stories.
This week, Yum Brands announced it would sell Pizza Hut's business outside mainland China to Berlin's firm, LongRange Capital, for approximately $1.5 billion.
At the same time, Yum China Holdings will acquire the chain's China operations for roughly $1.2 billion.
For consumers, the deal is unlikely to bring immediate changes to menus, loyalty programs or restaurant operations. But behind the scenes, it marks the start of one of the biggest turnaround attempts in the restaurant industry.
'We look forward to partnering with Pizza Hut's executive team and franchisees to drive its next phase of growth,' Berlin said following the announcement.
The question now is whether he can repeat the success he achieved at Arby's. Berlin founded LongRange Capital in 2019 after spending decades investing in and operating consumer-facing businesses.
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- UF
How do you do it, Arby's???
PA.
pro ecclesia, pro javelina
