Yum! Brands (YUM-US) in Exclusive Talks to Sell Pizza Hut to LongRange Capital, Shifts Focus to Taco Bell and KFC

Yum! Brands (YUM-US) has entered exclusive negotiations with private equity firm LongRange Capital to sell its Pizza Hut division, according to media reports on May 31, 2026. The move is part of a strategy to refocus on stronger-performing Taco Bell and KFC brands. The sale has been under consideration since Yum! announced a strategic review of Pizza Hut in November 2025, citing intensifying delivery competition and rising costs in the U.S. market. In the first quarter of 2026, Pizza Hut’s system sales were flat year-over-year, while KFC and Taco Bell grew 6% and 10%, respectively. Adjusted operating profit at Pizza Hut dropped 16%, versus gains of 9% at KFC and 16% at Taco Bell. CEO Chris Turner previously stated that the brand’s transformation might be executed more efficiently outside the Yum! portfolio. LongRange Capital beat other bidders for exclusive negotiation rights; a deal could be finalized within weeks.