Pizza Hut is set to be sold in a major deal worth over £2 billion, following a period of financial difficulty for the beloved pizza chain. Owner Yum! Brands placed the struggling giant under strategic review in November 2025, and on June 16, it was confirmed that two private equity firms will acquire parts of the business.
Details of the Deal
LongRange Capital will acquire the mainland brand outside of China for approximately $1.5 billion. Meanwhile, the Chinese operations will be sold to Yum! China for around $1.2 billion. The combined transactions total approximately £2.7 billion, working out to just over £2 billion.
The move is expected to position Yum! Brands, which also owns KFC and Taco Bell, for long-term growth and shareholder value creation. Both transactions are set to be completed by the third quarter of 2026.
CEO Statement
Chris Turner, Chief Executive Officer of Yum! Brands, said: "These transactions enable Yum! to be a more focused company that continues to leverage scale, technology and talent to accelerate our priorities and deliver sustained value for our stakeholders. Under LongRange and Yum China, Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry."
Financial Struggles and Closures
The announcement comes amid a turbulent time for Pizza Hut. Founded in 1958 in Wichita, Texas, the chain once operated over 19,000 restaurants globally. However, tough competition from delivery services led to Domino's overtaking it as the largest pizza chain in the US in 2018.
In October 2025, 68 branches and 11 delivery outlets across the UK were closed as part of a pre-pack rescue deal, resulting in the loss of 1,210 jobs. The closures affected six locations in Scotland after DC London Pie, operator of Pizza Hut's UK dining-in business, entered administration. Directional Capital, which operates franchises in Denmark and Sweden, bought 139 restaurants, safeguarding around 3,000 UK jobs.
Recent Closures in Glasgow
In August 2025, a Pizza Hut branch in Glasgow's famed 'four corners' location suddenly closed. Then on April 11, 2026, the Glasgow Fort branch shut down following a landlord-led decision. Only one dine-in Pizza Hut remains in Glasgow, located in Braehead.
In related news, Poundstretcher was rescued from collapse after its restructuring plans were approved by the High Court, securing 93 percent of voting creditor support.
