(https://www.cnbc.com/2026/06/16/yum-brands-sells-pizza-hut-to-private-equity-firm-longrange-capital-for-2-point7-billion.html) to a PE firm at what looks like a distressed valuation screams balance sheet pressure, not growth strategy. When franchisors jettison brands instead of fixing them, they're usually trimming fat to hit debt covenants or fund other liabilities.

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