Under the agreement, Pizza Hut’s business outside Mainland China will be acquired by private equity firm LongRange Capital for approximately $1.5 billion, while Yum China Holdings will acquire Pizza Hut China for $1.2 billion.
The move follows a strategic review launched in late 2025, with Yum! aiming to sharpen its focus on core growth brands, particularly KFC and Taco Bell. CEO Chris Turner commented: “These transactions enable Yum! to be a more focused company that continues to leverage scale, technology and talent to accelerate growth.”
Following the sale, Yum! will no longer report Pizza Hut as part of its operating business and plans to use approximately $2.3 billion in net proceeds for investment and shareholder returns, alongside a newly approved $4 billion share repurchase program.
The transaction is expected to close in Q3 2026, subject to regulatory approvals.
(ps)
