Consortium Brand Partners, along with Eldridge Industries, Aurify Brands and Convive Brands, will acquire the chain, which has more than 120 units, in a deal expected to close this month.
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Artie Starrs made the move from president to CEO of Pizza Hut August 5.
Artie Starrs is sitting in the same office and working with the same people, but the new CEO of Pizza Hut is facing a different set of challenges as the brand drastically adjusts its footprint to better align with recent technological investments and retake its No. 1 spot among American pizza chains.
Sbarro filed for bankruptcy protection in March. It's the Melville, New York-based pizza chain's second filing in just three years.