Pizza chain will be sold for $2.7 billion after store closures and sales struggles

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleYum Brands announced plans to close 250 U.S. Pizza Hut locations earlier this year (Getty Images)Pizza Hut is being sold by its parent company, Yum! Brands, in a deal valued at $2.7 billion, with the transaction expected to finalize in the third quarter of 2026. Private equity firm LongRange Capital is acquiring Pizza Hut's business outside mainland China for approximately $1.5billion, while Yum China Holdings Inc. will purchase the mainland China operations for about $1.2 billion. The sale comes after a period of significant challenges for Pizza Hut, marked by declining sales attributed to outdated restaurant locations, intense competition in the fast-food sector, and the closure of 250 underperforming US locations. The brand also faced controversy following an AI rollout, with a franchisee suing the company and claiming the new system caused a $100 million loss by slowing delivery times as drivers waited for multiple orders. Yum! Brands CEO Chris Turner expressed optimism for Pizza Hut's future, stating that under the new ownership, the brand will be well-positioned for growth, benefiting from the buyers' extensive expertise in the restaurant industry. In fullStruggling Pizza Hut chain will be sold by Yum! Brands in $2.7 billion dealThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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