Yum! Brands, Inc. (NYSE: YUM) shares took off for the skies Tuesday, on the announcement that it has entered into definitive agreements to sell Pizza Hut for $2.7 billion in the aggregate, subject to certain purchase price adjustments.
Pizza Hut, excluding Mainland China, will be acquired by LongRange Capital, a private equity firm with a customer-centric and operationally oriented approach, and Pizza Hut in Mainland China will be acquired by Yum China Holdings, Inc.
Following a comprehensive review of strategic options for Pizza Hut that commenced in November 2025, Yum!’s leadership team and Board of Directors determined the sale provides the strongest path to maximize shareholder value while providing Pizza Hut an ownership structure tailored to its distinct markets, competitive strengths and long-term priorities under leadership with significant relevant QSR experience.
“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,” said CEO Chris Turner. “Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry. Pizza Hut is one of the most iconic restaurant brands in the world, and we are proud of the important role it has played in Yum!’s history.”
YUM shares hiked $5.32, or 3.4^% to $159.99.
