Yum! Brands Completes Sale of Global Pizza Hut Business for ~$1.5 Billion

Yum! Brands, Inc. announced it has completed the sale of its global Pizza Hut business, excluding operations in China, to Toppings TopCo, LLC, an affiliate of LongRange Capital. The transaction is part of a larger strategic exit from the Pizza Hut brand, which generated aggregate proceeds of $2.7 billion. In connection with the closing, Pizza Hut CEO Aaron Powell has resigned.

Key Details

• Transaction Value: The sale was completed for approximately $1.49 billion in cash, with the potential for an additional $75 million earn-out by 2030 based on future performance.
• Strategic Exit: This transaction, combined with the previously announced sale of Pizza Hut's China business to Yum China Holdings, completes the total divestiture of the Pizza Hut brand for an aggregate value of $2.7 billion.
• Management Change: Aaron Powell, CEO of the Pizza Hut division, resigned from his position effective September 1, 2026, coinciding with the transaction's closing.