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Yum Brands has announced it will sell Pizza Hut in a $2.7bn deal that will offload the bulk of the fast-food restaurant chain to private equity.
The Kentucky-headquartered group said it had entered into definitive agreements to sell Pizza Hut — excluding its mainland China operations — to LongRange Capital for $1.5bn. The firm’s portfolio includes gym chain 24 Hour Fitness, a funeral products and services provider, and a maker of synthetic diamonds for mining.
Yum’s mainland China operations will be acquired for $1.2bn by Yum China, which was separated from the parent group a decade ago and operates the KFC and Taco Bell chains there.
The sale of Pizza Hut would allow Yum to be a more “focused” company and to deliver value for shareholders, said chief executive Chris Turner.
“Under LongRange and Yum China, Pizza Hut will be well positioned for future growth, with ownership that brings deep expertise in the restaurant industry,” he said in a statement on Tuesday announcing the deal.
Yum said it expected both transactions to close in the third quarter of 2026, subject to regulatory approval.
This is a developing story
