Major national pizza chain sold for $2.7 billion
Yum announced last year it was exploring strategic options amid declining sales and increasing costs.
Chloe Mitchell 
Pizza Hut is officially changing hands. Yum! Brands announced Tuesday morning that it is selling the iconic pizza chain in a massive $2.7 billion deal.
A Major Corporate Shift
Under the terms of the agreement, private equity firm LongRange Capital will acquire all Pizza Hut locations situated outside of mainland China. Meanwhile, the China-based locations are being sold to Yum China for $1.2 billion. This move follows a strategic pivot for Yum! Brands, which had been exploring various options for the brand last year as it navigated the challenges of rising costs and declining sales, as reported by Reuters.
"These transactions enable Yum! to be a more focused company that continues to leverage scale, technology and talent to accelerate our raising the B.A.R. priorities and deliver sustained value for our stakeholders," said Chris Turner, Chief Executive Officer of Yum! Brands. Turner noted that with LongRange and Yum China, the pizza chain is set up for future growth under leadership with deep industry expertise.
A Historic Brand Legacy
Yum! Brands currently oversees a massive footprint, operating approximately 6,300 Pizza Hut locations across the U.S. The brand's corporate history is extensive; it was acquired by PepsiCo in 1977 before being spun off alongside KFC and Taco Bell in 1997. The parent company adopted the name Yum! Brands in 2002.
According to 205focus.com, this transaction is expected to officially close in the third quarter of 2026.
