Pizza Hut exits Yum Brands in $2.7B split sale to LongRange Capital and Yum China
Yum Brands announced the sale of Pizza Hut for about $2.7 billion, with roughly $1.5 billion going to private equity firm LongRange Capital for Pizza Hut outside mainland China and about $1.2 billion going to Yum China for the China stores; after taxes and fees, Yum expects around $2.3 billion in net proceeds, plus an potential $75 million earn‑out by 2030 for LongRange and about $85 million in 2026 transaction costs. The deal ends Pizza Hut’s ties to Taco Bell and KFC and comes as Domino’s has gained share and third‑party delivery apps have cut into Pizza Hut’s sales; the sale is designed to maximize shareholder value and give Pizza Hut an ownership structure suited to its markets.