Pizza Hut Sold for $2.7 Billion to Private Equity Firm
WHO:
Fast Company - LongRange Capital currently owns brands including 24 Hour Fitness, Alpin Unlimited, Batesville, Bakkavor, and US Synthetic.
Fast Company - LongRange Capital will acquire Pizza Hut as its first restaurant chain.
Bloomberg Markets - Yum Brands will now focus more on its better-performing Taco Bell and KFC chains.
Fast Company - Yum Brands is the parent company of Pizza Hut.
ABC News - Yum Brands CEO Chris Turner stated, “Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry."
Bloomberg Markets - Michael Halen of Bloomberg Intelligence commented on the sale.
WHAT:
Fast Company - Yum Brands announced that its board of directors has approved the sale of Pizza Hut.
Fast Company - Yum Brands expects to receive around $2.7 billion in payments from LongRange Capital and Yum China Holdings.
Fast Company - Yum Brands' stock is currently trading about 2.8% higher to about $159 per share.
Fast Company - Yum China Holdings' U.S.-listed shares are down about 1.76% to $43.45.
Fast Company - Yum Brands began a strategic review to explore options for Pizza Hut in November 2025.
ABC News - Pizza Hut was founded in 1958 in Wichita, Kansas.
Bloomberg Markets - At the end of 2025, Pizza Hut had nearly 20,000 locations across 108 countries and territories and reported $12.8 billion in annual system sales.
Bloomberg Markets - The U.S. is Pizza Hut's biggest market, representing about 40% of its system sales, followed by China with roughly 20% of its system sales.
Fast Company - Yum Brands will receive a total pre-tax amount of $2.7 billion for the sale of Pizza Hut.
CNBC - Yum expects to receive a possible earnout of $75 million by 2030 from LongRange Capital.
Fast Company - Yum Brands is selling Pizza Hut for a total of $2.7 billion.
ABC News - The sale includes two transactions: LongRange Capital will acquire Pizza Hut for approximately $1.5 billion, and Yum China Holdings will purchase the operations in China for about $1.2 billion.
CNBC - Yum expects to receive about $2.3 billion in net proceeds after taxes from the sale.
ABC News - Yum Brands plans to close about 250 Pizza Hut locations during the first half of the year.
CNBC - Yum anticipates one-time expenses of about $85 million during the rest of 2026 tied to the transactions.
WHERE:
Fast Company - Pizza Hut was originally founded in Kansas.
ABC News - Yum Brands is based in Louisville, Kentucky.
CNBC - LongRange Capital is headquartered in Connecticut.
WHEN:
Fast Company - Yum Brands will provide more details about the sale during its Q2 2026 earnings call, expected to take place on July 30.
Fast Company - Yum Brands expects to provide more details about the sale during its Q2 2026 earnings call, expected to take place on July 30.
CNBC - Yum Brands expects the sales to close in the third quarter, subject to regulatory approval.
Fast Company - Yum Brands expects both sales to be completed by the end of its third quarter, which is September 30.
CNBC - Yum Brands will provide more details about the sale during its Q2 2026 earnings call, expected to take place on July 30.
WHY:
ABC News - The chain has struggled with outdated stores and growing competition.
Bloomberg Markets - The deal is expected to allow Yum Brands to maximize shareholder value and provide a tailored ownership structure for Pizza Hut.
ABC News - Yum Brands began a strategic review to explore options for Pizza Hut due to declining sales at comparable stores.
CNBC - The leadership team determined that selling Pizza Hut would provide "the strongest path" to maximize shareholder value.
HOW:
Fast Company - Yum Brands expects to receive approximately $2.3 billion of net proceeds after taxes from the sale.
CNBC - Yum Brands' leadership team determined that selling Pizza Hut would provide "the strongest path" to maximize shareholder value.
Bloomberg Markets - The transactions are expected to close in the third quarter, pending regulatory approval.
Fast Company - The sale involves two separate transactions: one with LongRange Capital for global operations excluding China, and another with Yum China Holdings for operations in China.
(UPDATED June 16, 2026 23:23 UTC)
Yum Brands has announced that its board of directors has approved the sale of Pizza Hut, with the company expecting to receive around $2.7 billion from LongRange Capital and Yum China Holdings. Following the news, Yum Brands' stock has risen about 2.8% to approximately $159 per share, while Yum China Holdings' U.S.-listed shares have dipped about 1.76% to $43.45. More details about the sale will be shared during Yum Brands' Q2 2026 earnings call, which is set for July 30.
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(UPDATED June 16, 2026 20:05 UTC)
Yum Brands has initiated a strategic review to explore options for Pizza Hut, a chain that has faced challenges with outdated stores and increasing competition. At the end of 2025, Pizza Hut boasted nearly 20,000 locations worldwide and reported $12.8 billion in annual system sales, with the U.S. being its largest market. Yum Brands plans to share more details about the potential sale during its Q2 2026 earnings call, which is scheduled for July 30.
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(UPDATED June 16, 2026 18:30 UTC)
LongRange Capital is set to acquire Pizza Hut as its first restaurant chain in a deal that will net Yum Brands a total pre-tax amount of $2.7 billion. Yum also anticipates a possible earnout of $75 million from LongRange Capital by 2030, as the company shifts its focus to its more successful Taco Bell and KFC brands. The sale is expected to close in the third quarter, pending regulatory approval, allowing Yum to maximize shareholder value with a tailored ownership structure for Pizza Hut.
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(UPDATED June 16, 2026 16:24 UTC)
Yum Brands is selling Pizza Hut for a total of $2.7 billion, with LongRange Capital acquiring the global operations for approximately $1.5 billion and Yum China Holdings purchasing the operations in China for about $1.2 billion. Yum expects to complete both sales by the end of its third quarter, on September 30, and will share more details during its Q2 2026 earnings call on July 30. The decision to sell comes after a strategic review prompted by declining sales at comparable stores, as Yum's leadership believes this move will maximize shareholder value.