One of the world’s biggest pizza chains is changing hands in a deal worth £2billion.
Pizza Hut is being sold by its owner, Yum! Brands, ending the fast food giant’s long-running ownership of the iconic brand as the restaurant industry continues to face significant challenges.
Under the agreement, private equity firm LongRange Capital will acquire Pizza Hut’s international business outside China in a deal worth £1.1billion.
At the same time, Yum China has agreed to buy Pizza Hut’s Chinese operations for £890million.
Yum! Brands, which also owns KFC and Taco Bell, launched a strategic review of Pizza Hut last November as it explored options for the chain’s future.
The deal means Pizza Hut will have separate owners in China and the rest of the world.
The sale also includes Pizza Hut’s UK restaurant operations, which Yum! Brands stepped in to rescue last year after a major franchise operator collapsed.
In October 2025, DC London Pie, which operated Pizza Hut’s dine-in restaurants across the UK, fell into administration.
Pizza Hut entered administration in October 2025
|
GETTY IMAGESThe collapse led to the permanent closure of 68 restaurants and 11 delivery outlets, putting around 1,210 jobs at risk.
Yum! Brands intervened to save parts of the business, securing the future of around 64 sites through a rescue deal.
Those restaurants will now become part of LongRange Capital’s acquisition, giving the private equity firm control of Pizza Hut’s UK operations alongside its wider international business.
Yum! Brands stated that divesting Pizza Hut enables the company to deliver maximum returns for its shareholders.
The collapse led to the permanent closure of 68 restaurants and 11 delivery outlets
|
GETTYChris Turner, the group’s chief executive, expressed confidence in the chain’s prospects under its new owners.
“Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry,” he said.
Mr Turner also reflected on the brand’s significance to the company’s heritage.
“Pizza Hut is one of the most iconic restaurant brands in the world, and we are proud of the important role it has played in Yum’s history,” he added.
The sale comes amid broader turbulence across the pizza restaurant sector
|
GETTY
The sale comes amid broader turbulence across the pizza restaurant sector.
Papa Johns has shuttered 44 underperforming locations across 17 American states this year, with plans to close roughly 300 sites by the end of 2027.
The rival chain has blamed falling sales and fierce competition from chicken-focused fast food outlets such as Raising Cane’s and Dave’s Hot Chicken for its struggles.
Papa Johns experienced a two per cent decline in North American sales during 2025, followed by a 6.4 per cent drop in the first quarter of this year.
Pizza Hut has similarly been closing underperforming outlets, reflecting the wider difficulties confronting the industry.