Spinoffs Possible for Nothing Bundt Cakes, Pizza Hut

Two well-known dining names may soon have new owners. They are:

* Nothing Bundt Cakes (Addison, Texas). The bakery chain’s owner, private equity fund Roark Capital, has hired North Point and Bank of America to run the sale process, which will likely kick off early next year, sources requesting anonymity told Reuters. The chain, which Roark bought in 2021 and currently has just under 700 units, could fetch $2 billion-plus.

* Pizza Hut (Louisville, Ky.) Owner Yum! Brands disclosed it is exploring strategic options for the struggling chain, which has 19,000 stores in 110-plus countries. “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 realize its full value, which may be better executed outside of Yum! Brands,” said Yum! CEO Chris Turner. Yum!’s other units are KFC, Taco Bell and Habit Burger & Grill.