LOUISVILLE, Ky. — Pizza Hut’s parent company announced on Tuesday that the fast-food chain will be sold in a pair of deals totaling $2.7 billion.
Yum Brands Inc., of Louisville, Kentucky, said the restaurant chain’s deal includes a $1.5 billion sale to private equity firm LongRange Capital, WHAS reported. That transaction includes all Pizza Hut restaurants except those in mainland China.
Yum China will purchase the mainland China locations for approximately $1.2 billion, according to CNBC.
Pizza Hut has transitioned from a sit-down restaurant and salad bar in the United States to focus on carryout and delivery orders, according to the business news outlet.
CORRECTION: Yum Brands sells Pizza Hut to private equity firm LongRange Capital and Yum China for $2.7 billion https://t.co/BRRxljRZGd
— CNBC (@CNBC) June 16, 2026
Rivals such as Domino’s have wedged into the market share, while delivery services such as Uber Eats and DoorDash have made inroads.
“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,” Yum Brands CEO Chris Turner said in a statement. “Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry.
“Pizza Hut was built by the passion and dedication of our team members, employees and franchisees, and we’re excited for the next chapter.”
According to the terms of both deals, Yum Brands expects to clear approximately $2.3 billion after taxes, closing adjustments and fees, CNBC reported. There is also a possibility of an earn-out of $75 million from LongRange by 2030.
“Pizza Hut is a beloved global brand with a rich heritage and a loyal customer base that few brands can match,” LongRange founder Bob Berlin said in a statement. “We look forward to partnering with Yum to ensure a smooth transition for the business and working with Pizza Hut’s talented team and franchise partners to drive its next phase of growth through investments that deliver consistently great food and experiences for customers around the world.”
The U.S. pizza industry boomed after the COVID-19 pandemic, but growth has stalled since then, The Wall Street Journal reported. But U.S. sales among pizza chains fell 0.3% during 2025 compared to 2024 statistics, according to Technomic, a market research firm.
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