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Yum! Brands sells struggling Pizza Hut in $2.7 billion deal

Yum! Brands announced Tuesday the sale of Pizza Hut in a $2.7 billion deal. Ownership will be split between a Chinese restaurant company and a U.S. private equity firm. The sale excludes the mainland China business.

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What changed

Confirmed the announcement date as Tuesday and that the deal excludes mainland China operations.

Live updates

  1. Yum! Brands Sells Pizza Hut for $2.7 Billion

    Yum! Brands announced Tuesday the sale of Pizza Hut in a $2.7 billion deal. Ownership will be split between a Chinese restaurant company and a U.S. private equity firm. The sale excludes the mainland China business.

    What's confirmed:

    • Yum! Brands is selling Pizza Hut in a $2.7 billion deal.
    • Ownership of the chain will be split between a U.S. private equity firm and a Chinese restaurant company.

    Still unconfirmed:

    • The sale follows the announcement of hundreds of store closures.
    • Yum! Brands will use the proceeds to authorize a $4 billion share buyback program.
    • LongRange Capital and Yum China are the specific buyers.
    confidence 90%

  2. Yum! Brands Sells Pizza Hut for $2.7 Billion Amid Restructuring

    Yum! Brands is selling Pizza Hut in a $2.7 billion split deal to LongRange Capital and Yum China. The move follows years of weak U.S. sales. Yum! Brands will use the proceeds to authorize a $4 billion share buyback program.

    What's confirmed:

    • Yum! Brands is selling Pizza Hut for $2.7 billion.
    • The sale involves a split deal with LongRange Capital and Yum China.
    • Yum! Brands authorized a $4 billion share buyback program following the agreement.

    Still unconfirmed:

    • Pizza Hut plans to shutter 250 U.S. stores.
    • The chain is testing retro-inspired dine-in redesigns to revive the restaurant experience.
    confidence 95%

  3. Yum! Brands Sells Pizza Hut in $2.7 Billion Split Deal

    Yum! Brands is selling its entire Pizza Hut business for $2.7 billion. LongRange Capital will acquire operations outside mainland China, while Yum China Holdings takes over China operations. The company will shift its focus to KFC, Taco Bell, and Habit Burger & Grill.

    What's confirmed:

    • Yum! Brands is selling Pizza Hut for $2.7 billion.
    • LongRange Capital is purchasing Pizza Hut operations outside mainland China.
    • Yum China Holdings is acquiring the China operations.
    • The transaction is expected to close in the third quarter of 2026.
    • Yum! Brands will focus on KFC, Taco Bell, and Habit Burger & Grill following the sale.
    • The deal received unanimous Board approval.

    Still unconfirmed:

    • The sale of Pizza Hut is not necessarily a long-term win for the company.
    confidence 100%

  4. Yum! Brands sells Pizza Hut for $2.7 billion

    Yum! Brands announced Tuesday the sale of Pizza Hut for approximately $2.7 billion. The company intends to focus on capital allocation and its other brands, KFC and Taco Bell. The move follows a period of declining sales for the pizza chain.

    What's confirmed:

    • Yum! Brands entered definitive agreements on Tuesday to sell Pizza Hut for approximately $2.7 billion.
    • The sale follows years of lagging sales at the chain.
    • Yum! Brands will focus on its remaining brands, KFC and Taco Bell.
    confidence 100%

  5. Yum! Brands Sells Pizza Hut for $2.7 Billion

    Yum! Brands has agreed to sell Pizza Hut in two separate deals totaling $2.7 billion. Yum China Holdings, Inc. will take over mainland China locations. LongRange Capital will acquire the United States and all remaining international operations.

    What's confirmed:

    • Yum! Brands is selling Pizza Hut for a total of $2.7 billion.
    • Yum China will acquire Pizza Hut locations in mainland China.
    • LongRange Capital will purchase the United States and other remaining locations.
    • The sale follows a period of declining sales for the chain.

    Still unconfirmed:

    • Rising costs and weak demand contributed to the sale.
    • The chain has faced widespread store closures.
    confidence 100%

  6. Yum! Brands Sells Pizza Hut in $2.7 Billion Deal

    Yum! Brands has entered definitive agreements to sell Pizza Hut for an aggregate of $2.7 billion. The sale splits the chain between LongRange Capital and Yum China Holdings, Inc. This move follows a strategic review of the brand amid delivery competition and declining sales.

    What's confirmed:

    • Yum! Brands entered definitive agreements to sell Pizza Hut for $2.7 billion in the aggregate.
    • LongRange Capital will acquire Pizza Hut excluding Mainland China for $1.5 billion.
    • Yum China Holdings, Inc. will acquire Pizza Hut in Mainland China in a separate transaction.
    • The board approved an incremental $4 billion share repurchase authorization.
    • The sale follows a strategic review of Pizza Hut.

    Still unconfirmed:

    • The chain has been rocked by store closures and a decline in sales.
    • Pizza Hut has struggled with outdated restaurants.
    confidence 100%