For nearly seven decades, Pizza Hut was one of America's most recognisable restaurant brands. It introduced millions of consumers to pizza, built thousands of restaurants across the world and became a symbol of family dining. Yet in June 2026, the chain founded by two brothers, Frank and Dan Carney, with a $600 loan from their mother was split in a $2.7 billion deal.
Yum Brands, the owner of Pizza Hut, KFC and Taco Bell, announced that it would sell Pizza Hut's international business outside mainland China to private equity firm LongRange Capital for $1.5 billion. The China business, meanwhile, will be acquired by Yum China Holdings for $1.2 billion.
