The sale of Pizza Hut, a iconic brand known for its pan and hand-tossed pizzas, to private equity firm LongRange Capital has been finalized. This deal severs the 68-year-old pizza chain from its former parent company, Yum Brands. The transaction was completed recently, with LongRange announcing the acquisition of the brand, excluding Mainland China, for approximately $1.5 billion.
Separate Deals for China and the Global Brand
The transaction involved two distinct deals totaling $2.7 billion. While LongRange acquired the global Pizza Hut brand, Yum Brands sold its operations in Mainland China to Yum China Holdings for $1.2 billion on August 10. This sale included Pizza Hut’s more than 2,400 locations in China, which have been performing well despite the country’s economic slowdown. Yum Brands retains the Pizza Hut business in other international markets, including countries like India, Indonesia, and the Philippines.
With the removal of Pizza Hut’s 19,000-plus locations worldwide, Yum Brands now operates over 44,000 restaurants in 151 countries and territories. This portfolio consists of the KFC, Taco Bell, and Habit Burger & Grill brands. The company’s global footprint spans across five continents, with a strong presence in North America, Europe, and Asia.
Yum Brands’ CEO, Chris Turner, expressed excitement about the company’s future. He stated that the separation allows Yum Brands to focus on driving growth across its remaining brands. Turner highlighted the company’s strong digital capabilities and scale, as well as its innovative delivery platform, Byte by Yum, as key drivers for accelerated growth and shareholder value.
Leadership Changes at the Pizza Chain
LongRange appointed Eduardo Luz as the interim CEO of the standalone Pizza Hut business. Luz brings a wealth of industry experience to his new role. Prior to joining Pizza Hut, he served as CEO and president of P.F. Chang’s from 2023 to 2025. During his tenure, Luz successfully led the restaurant chain’s turnaround, implementing operational improvements and enhancing the brand’s digital presence.
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Before P.F. Chang’s, Luz held various executive roles in the food industry. He served as the chief brand and concept officer at Panera Bread, where he played a key part in driving growth and innovation. Luz also had a successful stint as CEO of 8Greens, a plant-based nutrition company. Earlier in his career, he spent over six years at Kraft Heinz, working in various marketing and general management roles. Luz’s extensive background in brand management, operations, and digital strategy makes him well-suited to lead Pizza Hut through its next chapter.
Luz takes over from Aaron Powell, who stepped down from his global CEO role on August 14. Powell, who held the position since 2021, announced his decision to pursue new opportunities and will not remain with the company. In a statement, Powell thanked the Pizza Hut team for their support and wished the brand success under its new ownership.
Another key departure was Joseph Call, Pizza Hut’s global chief development officer. Call joined Yum Brands over 24 years ago and held various finance, strategy, and development roles within the company. He played a significant part in Pizza Hut’s international expansion and franchise growth.
In a statement following the acquisition, Eduardo Luz said that as a standalone business, Pizza Hut is now fully focused on serving its guests, franchisees, and the dedicated teams that bring the brand to life every day. He emphasized that with LongRange’s support and resources, the company is well-positioned to invest in the brand and build on its rich legacy.
This separation marks a significant shift for Pizza Hut, a chain that has faced challenges in recent years, including sales declines, footprint reduction, and market share erosion. Yum Brands is on track to close about 250 Pizza Hut locations this year as part of a broader restructuring effort aimed at improving the brand’s performance and profitability.