The company that owns the Pizza Hut brand is looking for a UK Master Franchise for the restaurant chain.

Yum! Restaurants International, which also owns KFC and Taco Bell, is looking for a Master Franchise Owner to take over the company's 700 Pizza Hut restaurants in the UK with the potential of re-franchising some to single unit franchise owners.

A spokesperson for Yum! Restaurants International said: "Consistent with its strategy of focusing on high growth, high return markets, Yum! Brands has decided to refranchise its entire Pizza Hut UK business and is seeking a single buyer to purchase its company-owned restaurants and to serve as a Master Franchise for the market.

"The UK market is well developed and will benefit from a strong, growth-oriented partner. Pizza Hut ranks as the UK's favourite pizza and recently launched a re-branding campaign that has resulted in increased transactions and sales."