Yum! Brands officially sold iconic pizza chain Pizza Hut for $1.5 billion after years of stagnant sales.
The deal marks the first time Pizza Hut has had a new owner since 1977, when PepsiCo purchased the chain. In 1997, PepsiCo spun off Pizza Hut, Taco Bell and KFC into a separate company called Tricon Global Restaurants. Five years later, the company was renamed Yum! Brands.
LongRange Capital acquired the Pizza Hut brand outside China for $1.5 billion. Yum! transferred Pizza Hut’s China operations to sister company Yum China for $1.2 billion.
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“As a standalone business, we are now fully focused on Pizza Hut’s guests, our franchisees and the teams who bring the brand to life every day,” interim Pizza Hut CEO Eduardo Luz said. “With LongRange’s support and resources, we are well-positioned to invest in the brand and build on Pizza Hut’s legacy as we enter this next chapter.”
Although sales have declined in the United States, Canada and Europe, Pizza Hut has continued to grow in China. In 2024, U.S. sales accounted for 46% of the brand’s revenue. In 2025, that figure fell to 40%.
One immediate change is that Pizza Hut is temporarily dropping “Pizza” from its branding and will simply go by “Hut” during football season.
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