Pizza Hut sold in USD 2.7b deal

Texas : Yum! Brands has agreed to sell Pizza Hut in a deal valued at USD 2.7 billion, marking the end of its ownership of one of the world's most recognizable pizza chains.

The business will be split between two buyers, with LongRange Capital acquiring Pizza Hut's operations outside mainland China for USD 1.5 billion, while Yum China Holdings will purchase the mainland China business for USD 1.2 billion.

The sale follows months of declining performance, particularly in the United States, where Pizza Hut has struggled to compete against rivals such as Domino's, Papa John's, and Little Caesars.

Increased price competition, changing consumer preferences, and the growing popularity of food delivery platforms have all contributed to weaker sales.

Yum! Brands first announced plans to explore strategic options for Pizza Hut in late 2025 after several quarters of disappointing results.

The company believes the new owners are well-positioned to invest in the brand's future growth and strengthen its position in key markets.

Founded in 1958 in Wichita, Kansas, Pizza Hut became part of PepsiCo in 1977 before joining Yum! Brands when the restaurant division was spun off in 1997.

The company also regained control of Pizza Hut's UK dine-in operations last year following the collapse of the previous franchise operator.

The transactions are expected to be completed during the third quarter of 2026, pending regulatory approval.

Yum! Brands will continue focusing on expanding its remaining global brands, including KFC and Taco Bell.