Yum Brands, the parent company behind Taco Bell and KFC, announced it is selling Pizza Hut to private equity firm LongRange Capital for roughly $1.5 billion, while the brand's Mainland China business will be taken over by Yum China for around $1.2 billion.
Rising inflation and higher commodity costs have weighed on U.S. pizza chains already facing weak demand, as growing use of GLP-1 weight-loss drugs nudges consumers toward healthier options, reports Reuters.
CEO Chris Turner, who took over the role in October 2025, said the move will sharpen Yum's focus on expanding its remaining brands, particularly Taco Bell and KFC, while allowing Pizza Hut to pursue its own growth strategy under new ownership, as per a CNBC article.
Founded in 1958 in Wichita, Kansas, Pizza Hut was acquired by PepsiCo in 1977 and spun off in 1997 alongside KFC and Taco Bell to eventually become Yum Brands in 2002.
"This positions Pizza Hut for even greater growth going forward, and for Yum, it allows us to focus even more on those three brands," Turner said on CNBC's Mad Money on Tuesday. "Of course, the two biggest there are Taco Bell and KFC. They have incredible white space opportunities in front of them."
The CEO doubled down on Taco Bell's international potential. It operates roughly 1,200 restaurants outside the United States, but Turner believes that figure can grow significantly. "There should be thousands and thousands and thousands of Taco Bells around the globe someday," CNBC quoted him as saying.
He also spoke of KFC, describing the fried chicken chain as a "powerhouse" brand with roughly 34,000 restaurants worldwide.
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