By Ben Coley
It appears Yum! Brands and Pizza Hut are closer to parting ways.
Reuters and Bloomberg reported that Yum! is discussing selling the global pizza giant to private equity firm LongRange Capital. A potential agreement could be finalized in weeks. Sycamore Partners and Apollo Global Management were among other firms in talks to buy the brand.
In an article for Seeking Alpha, Pedro Goulart, an equity analyst and founder of Goulart’s Restaurant Stocks, has estimated the value of the deal at between $3.6 to $4.3 billion. Other analysts have estimated the deal to be worth about $3.5 billion, as MSN has reported.
The process of selling the chain dates back to November 2025, when Yum! revealed that it was mulling strategic alternatives for Pizza Hut, including a possible sale.
The financial move comes at a perilous time for Pizza Hut.
The chain has struggled to gain traction with consumers over the past few years. In Q1, U.S. same-store sales fell 4 percent and systemwide sales dropped 6 percent. In fiscal 2025, comps decreased 5 percent and systemwide sales declined 8 percent. In fiscal 2024, comps fell 3 percent and systemwide sales were even.
Pizza Hut’s U.S. count continues to decline as well. Yum! previously announced that it planned to shutter roughly 250 U.S. restaurants in the first half of 2026. Pizza Hut finished Q1 with 6,121 units nationwide, a drop from 6,551 five years ago.
A deal to LongRange would take Pizza Hut private after more than 50 years.
LongRange, based in Stamford, Connecticut, said it was created to “take a longer-term perspective to investing and to build stronger and better middle market businesses through a company-focused and customer-first philosophy,” according to its website. Its current portfolio features 24 Hour Fitness, mountain destination investment platform Alpin Unlimited, food manufacturer Bakkavor, and deathcare company Batesville.
The company was founded by Bob Berlin in late 2019. For 10 years, he oversaw private equity investments at The Baupost Group, including its investment in Arby’s.
This article was originally published on QSR.com, PMQ Pizza’s sister publication.
