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Yum! Brands
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Updated Sep 1, 2026
Yum! completes $1.5B Pizza Hut sale to LongRange, consolidating portfolio around KFC and Taco Bell
Yum! Brands completed the divestiture of Pizza Hut ex-China to LongRange Capital for $1.488 billion in cash on September 1, 2026, marking the final step in exiting the Pizza Hut business globally. Combined with the August 2026 sale of Pizza Hut China to Yum China Holdings, the total Pizza Hut proceeds reach $2.7 billion, positioning Yum! as a leaner, more focused franchisor centered on KFC and Taco Bell. Management framed this as a structural pivot enabling acceleration of digital capabilities and portfolio optimization, though the filing highlights material headwinds: July 2026 cyclospora outbreak impact on sales recovery, significant China exposure, and geopolitical risk.
Tone: defensiveRevenue
$8.2B
YUM 10-K · FY 2025
Employees
49,000
Revenue FY2024
$7.5B
Founded
1997
Profile
YUM 10-K Item 1 · Feb 20, 2026Yum! Brands is a global quick service restaurant franchisor operating over 63,000 restaurants across 155 countries and territories under four concepts: KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill. The company operates an asset-light model in which 97% of its units are run by independent franchisees. In 2025, the company launched Byte by Yum!, a proprietary SaaS and AI-driven technology platform designed to unify restaurant operations across its global franchise system.
Read filing description ↓ Collapse description ↑
YUM has over 63,000 restaurants in 155 countries and territories primarily operating under the four concepts of KFC, Taco Bell, Pizza Hut and Habit Burger & Grill (the 'Concepts'). The Company's KFC, Taco Bell and Pizza Hut brands are global leaders of the chicken, Mexican-inspired food and pizza categories, respectively. Habit Burger & Grill is a fast-casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. At December 31, 2025, 97% of our Concepts' units are operated by independent franchisees or licensees under the terms of franchise or license agreements. Through our Recipe for Good Growth we strive to grow iconic restaurant brands around the world that are loved by our customers, trusted everywhere we operate and connected through teamwork, technology and our global scale. In 2025, we introduced our Byte by Yum! platform, a comprehensive collection of proprietary software as a service and artificial intelligence driven products that enables easy operations for team members and improved experiences for customers, while consolidating essential systems into a cohesive, easy-to-manage platform. The Byte by Yum! platform includes online and mobile app ordering, point of sale, kitchen and delivery optimization, menu management, inventory and labor management and team member tools. In 2025, we began a review of strategic options for the Pizza Hut brand. The objective of the review is to create value for YUM, Pizza Hut and its franchise partners by determining the optimal approach to best capitalize on Pizza Hut's structural advantages in the highly fragmented pizza market.
Primary products
- Kentucky Fried Chicken
- Taco Bell Mexican-style food products
- Pizza Hut ready-to-eat pizza products
- Habit Burger & Grill chargrilled burgers and sandwiches
- Byte by Yum! platform
Business segments
End markets
Geographies
Named customers
We have franchise relationships that are particularly important to our business due to their scale and/or growth prospects such as our relationship with Yum China, our largest franchisee.
Named competitors
“Given the various types and vast number of competitors, our Concepts do not constitute a significant portion of the retail food industry in terms of number of system units or system sales, either on a worldwide or individual country basis.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues grew from $7,549 million in 2024 to $8,214 million in 2025, driven by growth across company sales, franchise and property revenues, and franchise contributions for advertising and other services.
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