Yum! Brands Plans to Sell Pizza Hut, Deal Expected to Be Reached Within Weeks
Miles Bennett
Yum Brands is in exclusive talks with private-equity firm LongRange Capital to sell Pizza Hut — a brand that has lagged the group for years and now faces a full divestiture.
How far along is the deal?
Yum Brands (NYSE: YUM) is in exclusive negotiations with LongRange Capital to sell the entire Pizza Hut chain.
LongRange recently beat out rival bidders including Sycamore Partners to win exclusive talks. A deal could close within weeks.
But sources caution there is no guarantee a final agreement will be reached. This means → the talks are advanced, but still carry real uncertainty.
Why is Pizza Hut being sold?
Pizza Hut's share of Yum's total revenue fell from over 18% in 2019 to roughly 12% in 2025, with sales stuck just above $1 billion for years.
Over the same period, Yum's overall revenue grew about 47% to $8.2 billion. In plain terms = the group kept growing; Pizza Hut didn't, and the gap became impossible to ignore.
Yum said last year that after years of trying to revive Pizza Hut's sales, it was conducting a strategic review of the business. This reflects a management team that had exhausted internal turnaround options.
Who is the buyer?
LongRange Capital was founded in 2019 by Bob Berlin, who has deep experience in restaurant investing.
Berlin previously led the investment in Arby's while at Roark Capital. This means → he is familiar with the operating logic of chain quick-service restaurants.
LongRange currently holds 24 Hour Fitness and Austrian ski-resort company Alpin Unlimited, signaling a consumer- and lifestyle-focused portfolio.
What does this mean for Yum?
Yum's stock is down about 2.2% year-to-date, with a market cap of roughly $41 billion.
Shedding Pizza Hut would let Yum concentrate on KFC and Taco Bell — the two brands that have driven most of the group's recent growth.
Put simply = selling the underperformer and doubling down on the stronger hands is the most direct payoff of this deal for Yum.
Content is for reference only, not financial advice.