NEW YORK (AP) Pizza Hut’s $5 billion deal to buy Manhattan Pizza sounds like a good one for New York’s pizza scene.
But it’s not all pizza.
Manhattan Pizza will have to reinvent itself to compete with the likes of Pizza Hut and Panera Bread, which already have pizza brands.
The deal also requires Pizza Hut to pay a $4 billion debt to Pizza Hut shareholders and an additional $3 billion in debt.
WSJ’s Mike Snider explains what that means for the future of pizza.