Major national pizza chain sold for $2.7 billion
Yum announced last year it was exploring strategic options amid declining sales and increasing costs.
Mason Reed 
Pizza Hut is officially under new management. Yum! Brands announced Tuesday morning that it is selling the iconic pizza chain in a massive $2.7 billion deal.
The Breakdown of the Deal
Under the terms of the agreement, private equity firm LongRange Capital will acquire all Pizza Hut restaurants located outside of mainland China. Meanwhile, the China-based locations are being sold to Yum China for $1.2 billion. This move follows a year of planning by Yum! Brands, which previously disclosed it was exploring strategic options for the brand as it navigated rising costs and declining sales.
A New Chapter for Pizza Hut
Chris Turner, CEO of Yum! Brands, noted that these transactions will allow the company to sharpen its focus and better utilize technology and talent. According to Turner, Pizza Hut will be positioned for future success under new ownership that brings deep industry expertise to the table. 205focus.com notes that Yum! currently operates approximately 6,300 Pizza Hut locations across the U.S. alone.
A Long History
Pizza Hut's corporate journey has been extensive. The chain was originally acquired by PepsiCo in 1977 before being spun off alongside KFC and Taco Bell in 1997. The company officially rebranded as Yum! Brands in 2002.
The transaction is currently expected to finalize in the third quarter of 2026.
