Yum! Brands to Sell Pizza Hut (Ex-China) to LongRange Capital and Pizza Hut China to Yum China
June 16, 2026
Yum! Brands entered into definitive agreements to sell Pizza Hut for $2.7 billion in total: Pizza Hut excluding Mainland China to LongRange Capital for about $1.5 billion (plus a potential $75 million earn-out by 2030) and Pizza Hut in Mainland China to Yum China Holdings for about $1.2 billion. The transactions are expected to close in the third quarter of 2026, subject to customary regulatory approvals, and will make Yum! stop reporting Pizza Hut as a separate operating division.
- Buyers
- LongRange Capital, Yum China Holdings, Inc.
- Targets
- Pizza Hut (excluding Mainland China), Pizza Hut in Mainland China (Pizza Hut China)
- Sellers
- Yum! Brands, Inc.
- Platforms
- Industry
- Restaurants & Hospitality
- Location
- Kentucky, United States
- Transaction Type
- Divestiture
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