Yum! Brands has announced plans to sell Pizza Hut in a $2.7 billion deal, splitting ownership between a U.S. private equity firm and a Chinese restaurant company. Pizza Hut (excluding mainland China) will be sold to LongRange Capital for $1.5 billion, while Pizza Hut China will be sold by Yum! China for $1.2 billion. The move follows declining comparable-store sales, prompting Yum! Brands to explore options for Pizza Hut since November. Pizza Hut was founded in 1958 and was acquired by PepsiCo in 1977 before becoming part of Yum! Brands.
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Updated on: June 16, 2026 / 9:13 AM EDT
/ CBS News
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Yum! Brands said Tuesday that it is selling Pizza Hut in a $2.7 billion deal that will split ownership of the restaurant chain between a U.S. private equity firm and a Chinese restaurant company.
Pizza Hut, excluding the mainland China business, will be sold to LongRange Capital for $1.5 billion, while Pizza Hut China will be sold by Yum! China for $1.2 billion, the company said in a news release .
"Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry," Yum Brands CEO Chris Turner said in a statement.
Yum! Brands, whose other brands include KFC and Taco Bell, started exploring options for Pizza Hut in November following declining comparable-store sales.
Pizza Hut was founded in 1958 in Wichita, Kansas. PepsiCo acquired the chain in 1977 but spun off its restaurant division in 1997, which became Yum! Brands.
—This is a developing story and will be updated
Edited by
Alain Sherter
The Associated Press
contributed to this report.
In:
Pizza Hut
Read the full article at CBS News (US) →Pizza Hut, a well-known pizza chain, is being sold for $2.7 billion amid changing consumer habits driven by the rise of delivery culture.
Bias read (Center): The article reports on a business transaction without taking a stance or using biased language. It focuses on market trends and does not involve political figures, parties, or policies.
Yum Brands has agreed to sell Pizza Hut for $2.7 billion, splitting the transaction into two parts. LongRange Capital will acquire most of the chain, while Yum China will take over Pizza Hut's operations in mainland China.
Bias read (Center): The article reports on a business transaction without taking a stance or using biased language. It provides factual information about the sale of Pizza Hut without emphasizing any particular political perspective.
Yum! Brands has announced plans to sell Pizza Hut in a $2.7 billion deal, splitting ownership between a U.S. private equity firm and a Chinese restaurant company. Pizza Hut (excluding mainland China) will be sold to LongRange Capital for $1.5 billion, while Pizza Hut China will be sold by Yum! China for $1.2 billion. The move follows declining comparable-store sales, prompting Yum! Brands to explore options for Pizza Hut since November. Pizza Hut was founded in 1958 and was acquired by PepsiCo in 1977 before becoming part of Yum! Brands.
Bias read (Center): The article presents factual information about a corporate transaction without using biased language, emphasizing neither positive nor negative aspects of the deal. It provides background on Pizza Hut's history and the reasons behind the sale without taking a stance.
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