Yum Brands is parting ways with Pizza Hut, entering exclusive negotiations to sell the iconic pizza chain to private equity firm LongRange Capital. The deal would mark one of the largest restaurant divestitures in recent memory, with analyst estimates placing the valuation somewhere between $3.5 billion and $4.3 billion.
Yum Brands shares climbed roughly 3% in after-hours trading when news of the talks first surfaced.
A brand that’s been cooling off
Pizza Hut accounted for approximately 12% of Yum Brands’ overall revenue in 2025, a noticeable slide from the more than 18% it contributed back in 2019. Ten consecutive quarters of declining US sales will do that.
Yum Brands, which also owns KFC and Taco Bell, initiated a strategic review in late 2025 that eventually led to these sale discussions. Negotiations reportedly kicked off around May 29, 2026, and sources indicate talks are moving quickly, though no final deal has been locked in and no precise sale price has been publicly disclosed.
