An expensive slice! Pizza Hut is sold by parent company for $1.5B

Yum! Brands has sold Pizza Hut’s business outside mainland China to LongRange Capital for $1.5 billion, ending its nearly 30-year ownership - (Getty)

Pizza Hut officially has a new owner.

Yum! Brands, the parent company of KFC, Taco Bell and Pizza Hut, has completed its $1.5 billion sale of Pizza Hut’s operations outside mainland China to private equity firm LongRange Capital, ending its nearly 30-year ownership of the pizza chain, the companies said Tuesday.