By Kit Norton

Shares of Yum! Brands advanced before the opening bell on Tuesday after the fast-food giant agreed to sell Pizza Hut for $2.7 billion.

The stock gained 0.9% in premarket trading on Tuesday after ending Monday up 0.2% to $154.67. Shares have traded sideways this year, gaining 2.2%.

In two separate deals, private-equity firm LongRange Capital will acquire Pizza Hut, excluding Mainland China, and Yum China Holdings will purchase Pizza Hut in Mainland China, according to a press release.

The deal between Yum! Brands and LongRange is worth around $1.5 billion. Pizza Hut Mainland China is being sold for about $1.2 billion. Yum! Brands expects both transactions to close in the third quarter.

The sales come after Yum! Brands started a comprehensive review of strategic options for Pizza Hut in November 2025. Pizza Hut sales have slowed in recent years, lagging behind the company's KFC and Taco Bell properties.

Yum! Brands CEO Chris Turner said the transactions enable the company to focus on technology, talent, and to "deliver sustained value for our stakeholders."

Write to Kit Norton at kit.norton@barrons.com

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June 16, 2026 08:40 ET (12:40 GMT)

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