Pizza Hut Sold for $2.7 Billion in Split Deal

Yum! Brands has announced the sale of Pizza Hut for $2.7 billion. The transaction involves a split acquisition: LongRange Capital will purchase Pizza Hut’s operations outside of mainland China. Simultaneously, Yum China will acquire Pizza Hut’s business within mainland China. This move allows Yum! Brands to streamline its portfolio and focus on other brands. LongRange Capital, a private equity firm, intends to further develop the Pizza Hut brand through franchising and expansion. Yum China’s acquisition strengthens its position in the Chinese market, where Pizza Hut is a popular chain. The deal is expected to close in the second quarter of 2024, pending regulatory approvals.