Yum Brands To Sell Pizza Hut for $2.7B

Yum Brands has entered into agreements to sell Pizza Hut for $2.7 billion. Private equity firm LongRange Capital will acquire Pizza Hut, excluding mainland China, for about $1.5 billion, plus Yum will have the opportunity to receive an earnout of $75 million by 2030. Yum China Holdings will acquire Pizza Hut in mainland China for about $1.2 billion.

A review of options for Pizza Hut started in November 2025. Yum’s leadership team and board of directors decided a sale would provide the strongest path to maximize shareholder value, a release details. It also provides Pizza Hut with an ownership structure tailored to its distinct markets, competitive strengths and long-term priorities under leadership with QSR experience.

“These transactions enable Yum! to be a more focused company that continues to leverage scale, technology and talent to accelerate our raising the B.A.R. priorities and deliver sustained value for our stakeholders,” says Chris Turner, CEO, Yum Brands, in the release. “Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry.”

Yum expects both transactions to close in Q3/26. For more transaction details, see the full press release. Yum has more than 63,000 restaurants in 155 countries and territories under its brands KFC, Taco Bell, Pizza Hut and Habit Burger & Grill.