LOUISVILLE, Ky. — Louisville-based Yum! Brands Inc. has completed the sale of most of its global Pizza Hut business to LongRange Capital for approximately $1.5 billion, completing a major restructuring of one of Kentucky’s largest publicly traded companies.
The transaction, announced Sept. 1, includes Pizza Hut operations outside Mainland China and is subject to certain adjustments. Yum! also has the opportunity to receive an additional $75 million earn-out through 2030 based on future performance.
Combined with Yum!’s previously announced sale of Pizza Hut’s Mainland China business to Yum China Holdings Inc., the transactions value the divestiture of Pizza Hut at approximately $2.7 billion in aggregate, subject to purchase price adjustments…