Yum! Brands completed the sale of its global Pizza Hut business (excluding Mainland China) to Toppings TopCo, LLC for $1.488 billion in cash on September 1, 2026. This transaction follows the August 7, 2026 sale of the Chinese Pizza Hut business to Yum China Holdings, bringing the aggregate proceeds from the full divestiture to approximately $2.7 billion. Concurrently, Aaron Powell resigned as CEO of the Pizza Hut business effective September 1, 2026. The company now operates KFC, Taco Bell, and Habit Burger & Grill in over 150 countries.

Yum! Brands completed the sale of its Pizza Hut business rights in Mainland China to Yum China Holdings for $1.2 billion on August 7, 2026. This transaction is part of a broader strategy to divest the Pizza Hut brand, with an aggregate target value of $2.7 billion when combined with the pending sale of Pizza Hut outside Mainland China to LongRange Capital. Concurrently, Yum! Brands entered into an Amended and Restated Master License Agreement with Yum China to govern the ongoing relationship for KFC and Taco Bell brands in the region, including performance-based incentives tied to system sales growth over 12 years. The company operates in the global quick-service restaurant industry.

Yum! Brands reported second-quarter GAAP EPS of $3.08 and EPS excluding special items of $1.62 for the period ended June 30, 2026. The company announced definitive agreements to sell its Pizza Hut business: international operations will be acquired by LongRange Capital, while Yum China will acquire the Mainland China unit. Worldwide system sales grew 5% excluding foreign currency translation, with KFC same-store sales up 7% and Taco Bell up 3%. The company also declared a quarterly dividend of $0.75 per share.

Yum! Brands, Inc. entered into agreements to sell its global Pizza Hut business (excluding China) to Toppings TopCo, LLC for $1.488 billion in cash and a potential $75 million earn-out. Additionally, the company is selling its Pizza Hut business in the People's Republic of China to Yum China Holdings, Inc. for $1.2 billion in cash. Yum! Brands, Inc. is a global restaurant company operating in the quick-service restaurant industry.