𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

The Pizza Hut restaurant chain is set to be sold for $2.7 billion, its parent company Yum! Brands has announced.

Private equity firm LongRange Capital is buying Pizza Hut, excluding the mainland China business, for about $1.5 billion, the company said Tuesday. The mainland China Pizza Hut will be purchased by Yum China Holdings Inc. for approximately $1.2 billion.

The sale announcement comes after Yum! Brands launched a strategic review to explore options for Pizza Hut in November, with the chain reporting declining sales at comparable stores.

Pizza Hut has nearly 20,000 stores in more than 100 countries, but the company gets nearly half its sales from the United States, where it has about 6,500 stores. Yum! Brands also owns Taco Bell and KFC.

The company said in February 2026 that it would close 250 underperforming Pizza Hut locations in the U.S.

Pizza Hut has struggled against rival chains like Domino’s Pizza, unlike Taco Bell which has consistently drawn in new customers by introducing new menu items.

“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,” said Chris Turner, chief executive officer of Yum! Brands.

“Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry. Pizza Hut is one of the most iconic restaurant brands in the world, and we are proud of the important role it has played in Yum!’s history. Pizza Hut was built by the passion and dedication of our team members, employees and franchisees, and we’re excited for the next chapter.”

Yum!’s Board of Directors unanimously approved the sale and the company expects both transactions to close in the third quarter of 2026.

More to follow…