Pizza Hut sold in $2.7 billion split deal
Yum Brands said on Tuesday it will sell Pizza Hut in a deal valuing the pizza chain at $2.7 billion. LongRange Capital will buy the business outside China for $1.5 billion, while Yum China will acquire the China operations for $1.2 billion.
The transaction ends nearly five decades of Pizza Hut being part of the Yum group. Yum said it began reviewing strategic options for the chain last year after several quarters of weaker performance compared with its other brands, KFC and Taco Bell.
The company said it expects the sale to close in the third quarter of 2026, pending regulatory approvals. At the same time, Yum announced it is expanding its share buyback program by $4 billion.
Pizza Hut has faced slowing demand in recent years, rising competition from rival chains, and changing consumer habits. In the United States, the chain also said this year it would close about 250 underperforming locations.
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