LOUISVILLE, Ky. (WDRB) — Louisville-based Yum! Brands announced Tuesday it reached agreements to sell the Pizza Hut brand in a deal valued at approximately $2.7 billion.
According to the company, the transaction is split into two parts. Private equity firm Long Range Capital will acquire Pizza Hut's business outside mainland China for about $1.5 billion, while Yum China Holdings will purchase the mainland China Pizza Hut business for roughly $1.2 billion.
The sale comes months after Yum! Brands said it was reviewing strategic options for Pizza Hut. In a memo distributed in November, the company indicated it was evaluating the brand's future direction.
Yum's CEO said this sale allows for the company to be more focused.
Pizza Hut has faced challenges in recent years as consumers cut back on spending and competitors gained market share. Earlier this year, the chain announced plans to close about 250 underperforming U.S. locations as part of a broader effort to improve performance.
Yum! Brands, which is headquartered in Louisville, will continue to own its other major restaurant brands, including KFC, Taco Bell and Habit Burger & Grill.
The company said it expects both transactions to close during the third quarter of 2026, pending customary approvals and closing conditions.
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