Done Deal: Yum Brands completes $1.5 billion sale of Pizza Hut
It’s official: Pizza Hut is no longer part of Yum Brands.
Yum Brands Inc. said it has completed the sale of the pizza giant to private equity firm LongRange Capital for approximately $1.5 billion, with the opportunity for Yum to receive an additional earn-out of $75 million by 2030 based on future performance.
In August, in a separate transaction, Yum closed on the sale of Pizza Hut China to Yum China Holding, its former Chinese subsidiary, for $1.2 billion. The LongRange deal completes Yum’s sale of Pizza Hut through two separate transactions for $2.7 billion in the aggregate.
Pizza Hut is being led by restaurant veteran Eduardo Luz, who was named interim CEO in August following the departure of Aaron Powell. Most recently, from 2023 to 2025, Luz served as CEO and president of P.F. Chang’s.
“As a standalone business, we are now fully focused on Pizza Hut’s guests, our franchisees, and the teams who bring the brand to life every day,” said Luz. “With LongRange’s support and resources, we are well-positioned to invest in the brand and build on Pizza Hut’s legacy as we enter this next chapter.”
In a statement, Yum CEO Chris Turner said that, with the closing of the Pizza Hut transaction complete, Yum now moves forward “as a more focused company with significant opportunities for growth around the world.” The Yum portfolio now includes more than 44,000 restaurants in 151 countries and territories under banners that include brands KFC, Taco Bell and Habit Burger & Grill.
In a statement, Bob Berlin, founder and managing partner of LongRange, noted that Pizza Hut has a storied legacy and global footprint that represents a significant opportunity.
"We are committed to supporting our franchisees and making the right investments to help Pizza Hut deliver consistently great food and experiences for guests around the world, while executing the operational and digital initiatives that will drive sustainable growth," he said.
