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Pizza Hut Lost in the U.S. Now It’s Selling for $2.7 Billion.

Yum! Brands has entered definitive agreements to sell Pizza Hut for a total of $2.7 billion. The deal splits the chain between two buyers based on geography. This move follows a strategic review of the 68-year-old brand.

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What changed

Yum! Brands announced the sale of Pizza Hut to LongRange Capital and Yum China Holdings.

Live updates

  1. Yum! Brands Sells Pizza Hut for $2.7 Billion

    Yum! Brands has entered definitive agreements to sell Pizza Hut for a total of $2.7 billion. The deal splits the chain between two buyers based on geography. This move follows a strategic review of the 68-year-old brand.

    What's confirmed:

    • Yum! Brands entered definitive agreements to sell Pizza Hut for $2.7 billion in the aggregate.
    • LongRange Capital will acquire Pizza Hut locations excluding Mainland China.
    • Yum China Holdings, Inc. will acquire Pizza Hut locations in Mainland China.
    • The Yum! Brands board approved an incremental $4 billion share repurchase authorization.

    Still unconfirmed:

    • Pizza Hut has struggled with delivery competition and outdated restaurants.
    • One investor is betting $1.5 billion to rescue the chain.
    confidence 100%