Yum! Brands Completes $1.5B Pizza Hut Sale to LongRange Capital

QSR Magazine·1 Sep 2026·

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3▲1 ▼0Impact / 5

M&A · Partnership Hotels, Restaurants & Leisure

YUM ▲

YUMC ±

Summary · why it matters

Yum! Brands has completed the sale of Pizza Hut, excluding Mainland China, to LongRange Capital for approximately $1.5 billion, with an additional earn-out of up to $75 million by 2030 based on future performance. Together with the previously closed sale of Pizza Hut in Mainland China to Yum China Holdings, which closed on August 7, 2026, the two transactions total $2.7 billion in aggregate. CEO Chris Turner said the completion marks a more focused company with significant growth opportunities, citing digital capabilities, scale, and Byte by Yum! as key drivers. Goldman Sachs and Barclays advised Yum! on the transaction, with legal counsel from Weil, Gotshal & Manges, Baker McKenzie, Dinsmore and Shohl, and Mayer Brown.

Yum! Brands Inc ▲

Yum China Holdings Inc ±

Impact on assets 4

Consumer Discretionary▲

Yum! Brands Inc

YUM

▲ PositiveCapitalrelevance

Yum! Brands completed the $1.5B sale of Pizza Hut (ex-Mainland China) to LongRange Capital, part of $2.7B total divestitures, sharpening focus on growth brands.

Yum China Holdings Inc

YUMC

± MixedCapitalrelevance

Yum China Holdings is mentioned only as the buyer of Pizza Hut Mainland China, a previously closed transaction; no new impact on Yum China.

Financials▲