Yum! Brands entered into definitive agreements to sell Pizza Hut for $2.7 billion.

Key details of the sale include:

• Two-Part Split:
  • Global & U.S. Business (Excluding Mainland China): Acquired by private equity firm LongRange Capital for $1.5 billion.
  • Mainland China Business: Acquired by Yum China Holdings Inc. for $1.2 billion.
• Why the Sale Happened: Pizza Hut has struggled to keep pace with delivery-focused competitors like Domino’s and third-party delivery services (DoorDash, Uber Eats). Selling the chain allows Yum! Brands to streamline its portfolio and focus on higher-performing brands like KFC and Taco Bell.
• Timeline: The transactions are expected to close in the third quarter of 2026.