Yum! Brands Considers Sale of Pizza Hut Amid Strategic Overhaul

Fast-food giant Yum! Brands Inc. is weighing a potential sale of its Pizza Hut division as part of a wide-ranging strategic review aimed at unlocking greater value for shareholders and giving the pizza chain a new path to growth.

The company announced on Wednesday that it has begun a formal evaluation of strategic options for Pizza Hut a process that could lead to a partial or full divestment. Financial advisers Goldman Sachs and Barclays have been appointed to assist with the review.

Yum! Brands, which also owns KFC and Taco Bell, said the move is designed to ensure Pizza Hut “reaches its full potential” for the benefit of franchisees, employees, and customers. CEO Chris Turner acknowledged that while Pizza Hut remains a “beloved global brand” with strong consumer loyalty and a wide international footprint, its performance has lagged in recent years.

“The Pizza Hut team has been working hard to address business and category challenges; however, its performance indicates the need to take additional action,” Turner said, adding that the brand’s future “may be better executed outside of Yum! Brands.”

The review underscores the company’s shifting focus toward faster-growing segments of its portfolio, particularly Taco Bell and KFC, which have delivered consistent sales growth globally. Pizza Hut, once a pioneer in dine-in pizza, has struggled to adapt to shifting consumer preferences and intense competition from delivery-focused rivals like Domino’s and Papa John’s.

Yum! has not set a timeline for the completion of the review and emphasized that there is no assurance a sale or other transaction will occur. The company said it would not provide additional updates unless required.