Yum! Brands, Inc. (NYSE: YUM) has agreed to sell Pizza Hut for a total of $2.7 billion.
The sale involves two separate transactions: Pizza Hut outside of Mainland China will be acquired by LongRange Capital for approximately $1.5 billion, while Pizza Hut in Mainland China will be sold to Yum China Holdings, Inc. (NYSE: YUMC) for about $1.2 billion.
Yum! Brands anticipates net proceeds of around $2.3 billion after taxes and fees, excluding a potential earn-out of $75 million by 2030.
The company also expects to incur one-time expenses of approximately $85 million in 2026 to complete the separation.
Both transactions have received unanimous approval from Yum!’s Board of Directors and are expected to close in the third quarter of 2026.
Chris Turner, Chief Executive Officer, Yum! Brands, commented, “These transactions enable Yum! to be a more focused company that continues to leverage scale, technology and talent to accelerate our raising the B.A.R. priorities and deliver sustained value for our stakeholders.”
