- Pizza Hut is being sold by its parent company, Yum! Brands, in a deal valued at $2.7 billion, with the transaction expected to finalize in the third quarter of 2026.
- Private equity firm LongRange Capital is acquiring Pizza Hut's business outside mainland China for approximately $1.5billion, while Yum China Holdings Inc. will purchase the mainland China operations for about $1.2 billion.
- The sale comes after a period of significant challenges for Pizza Hut, marked by declining sales attributed to outdated restaurant locations, intense competition in the fast-food sector, and the closure of 250 underperforming US locations.
- The brand also faced controversy following an AI rollout, with a franchisee suing the company and claiming the new system caused a $100 million loss by slowing delivery times as drivers waited for multiple orders.
- Yum! Brands CEO Chris Turner expressed optimism for Pizza Hut's future, stating that under the new ownership, the brand will be well-positioned for growth, benefiting from the buyers' extensive expertise in the restaurant industry.
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Struggling Pizza Hut chain will be sold by Yum! Brands in $2.7 billion deal
