02.09.2026 16:40
Yum Brands, which is also the parent company of KFC and Taco Bell, has completed the sale of the world-famous pizza chain Pizza Hut, which also operates in Turkey, through two separate transactions totaling $2.7 billion. Following the massive sale, Aaron Powell, who had been the company's Global CEO since 2021, resigned after rejecting the new owner's offer to continue in his role.
Yum Brands, which is also the parent company of KFC and Taco Bell, has divested its global restaurant chain Pizza Hut through two separate transactions totaling $2.7 billion. With the completion of the sales process, the change of ownership brought about a departure at the top management level; Aaron Powell, who had been serving as Pizza Hut's Global CEO since 2021, resigned from his position.
OPERATIONS OUTSIDE THE US AND CHINA SOLD FOR $1.5 BILLION
According to the transactions completed following the sales decision made in June, all Pizza Hut stores outside the US and mainland China have been transferred to the private equity firm LongRange Capital. This transfer, through which Yum Brands divested a significant portion of its global operations, took place for $1.5 billion. Together with the remaining operations, the total volume of the sales reached $2.7 billion.
CEO POWELL RESIGNS AFTER REJECTING THE OFFER
With the formalization of the sales process, the anticipated departure at Pizza Hut's top management occurred. Aaron Powell, who had been the highest-ranking figure of the chain globally since 2021, announced that he stepped down from the CEO position and all other roles as of September 1. In a farewell message shared on the professional networking platform LinkedIn in August, Powell stated that the new owner, LongRange Capital, offered him to continue in his role, but he made the decision to leave.
Yum Brands management had first publicly announced its decision to divest Pizza Hut, which had been going through tough times recently, in June.