Louisville, Ky., and Stamford, Conn. — Yum! Brands, Inc. has completed the sale of Pizza Hut — excluding Mainland China — to 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. LongRange Capital is a Stamford, Conn.-based private equity firm.
Together with the previously announced sale of Pizza Hut in Mainland China to Yum China Holdings, Inc., which closed on August 7, 2026, the LongRange transaction completes Yum!’s sale of Pizza Hut through two separate transactions for $2.7 billion in the aggregate.
“With this transaction complete, Yum! Brands now moves forward as a more focused company with significant opportunities for growth around the world,” says Chris Turner, chief executive officer, Yum! Brands.
“We are excited to complete this transaction and to partner with Eduardo and the Pizza Hut team,” says Bob Berlin, founder and managing partner of LongRange. “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.”
Founded in 1958, Pizza Hut is a global restaurant leader with approximately $10 billion in system-wide sales.
“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,” says Eduardo Luz, interim CEO of Pizza Hut. “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.”
LongRange Capital is a private equity firm that is currently investing a highly flexible, committed capital pool backed by long-term institutional holders. For more information, visit www.longrangecapital.com.
Yum! Brands, Inc., and its subsidiaries franchise or operate more than 44,000 restaurants in 151 countries and territories under its iconic brands: KFC, Taco Bell and Habit Burger & Grill.
SOURCE: Yum! Brands, Inc. and LongRange Capital