Proceeds of $2.3bn after taxes and fees will follow the sale of Pizza Hut’s global and China operations to separate buyers.
Yum Brands has agreed to sell its Pizza Hut business in two separate transactions totaling $2.7bn. LongRange Capital will acquire Pizza Hut outside Mainland China for $1.5bn, with an additional $75m earn-out possible by 2030. Yum China Holdings will purchase the China operations for $1.2bn.
The company expects net proceeds of approximately $2.3bn after taxes, closing adjustments, and transaction fees. Yum Brands will incur $85m in one-off separation costs this year. The deals follow a strategic review initiated in November 2025, aimed at maximizing shareholder value.
Both transactions are set to close in Q3 2026. Post-sale, Yum Brands will no longer report Pizza Hut as a separate division but will continue providing its proprietary technology platform to Pizza Hut outside China.