- - Pizza Hut for sale? Parent company Yum! Brands exploring 'strategic options'

Mike Snider, USA TODAY November 4, 2025 at 7:25 PM

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Yum! Brands may be losing its taste for Pizza Hut.

The Louisville, Kentucky-headquartered Yum! Brands announced on Tuesday, Nov. 4, that the company, which also owns Taco Bell and Kentucky Fried Chicken, would begin "a formal review of strategic options for the Pizza Hut brand," with a sale as a possibility.

"The Pizza Hut team has been working hard to address business and category challenges; however, Pizza Hut’s performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum! Brands," said Yum! Brands CEO Chris Turner in a news release.

Yum!, which has nearly 20,000 Pizza Hut restaurants worldwide, has seen Pizza Hut sales decline while its other businesses have grown. During a three-month period ending Sept. 30, Pizza Hut sales fell 2%, while Taco Bell sales rose 9% and KFC sales grew 6%, the company said in its earning release on Tuesday, Nov. 4.

In the U.S., Pizza Hut sales declined by 7%, while Taco Bell sales increased by 9%; KFC sales remained stable.

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Taco Bell and KFC account for more than 80% of Yum! Brands profits.

"If you look at the history, Pizza Hut has just faced more challenges heading into the pandemic and (post-pandemic), with at least their U.S. stores needing work," said Ab Igram, executive director of the Tariq Farid Franchise Institute at Babson College in Babson Park, Massachusetts.

Among Pizza Hut's challenges is that it has historically been seen as a sit-down casual dining restaurant, while competitors such as Domino's focus just on delivery and have grown market share, Igram said.

So it makes sense for Yum! to consider offloading Pizza Hut and focus on KFC and Taco Bell, while a new owner could concentrate on a Pizza Hut turnaround, he said.

"I think there's different challenges in those brands and sometimes new ownership, whether it's a private equity firm or it's tucked in somewhere else, but it brings in more capital and maybe some differences," Igram said.

Pizza Hut parent company Yum! Brands is exploring a possible sale of the restaurant chain.Pizza Hut deemed a 'beloved' brand, but may be sold

Restaurants have faced some challenges as they have had to raise prices, particularly as customers tightened their pocketbooks. Several restaurant chains have filed for bankruptcy, while others, including Outback Steakhouse, have closed locations.

To assuage customer concerns, Pizza Hut had successful $2 Personal Pan Pizza promotions this past summer. The restaurant chain is also testing a new restaurant design, with self-service kiosks, a drive-thru with a Hut ‘N Go menu for quick orders and a visible pizza-making station so customers can watch pies being made.

"Pizza Hut is a beloved global brand and industry innovator that connects people through the joy of pizza, and we are confident in its long-term future," Turner said. "Pizza Hut has many strengths – including deep consumer love, a global footprint, strong growth in many markets, a talented team, and an increasingly powerful technology platform."

The company, which has retained Goldman Sachs and Barclays as financial advisers for the strategic review, does not have a deadline or timetable to act on any options, and a sale or deal may not occur. Yum! Brands added in the news release that the company does not plan to make any additional public comment on the review until "it determines that further disclosure is appropriate or necessary."

Packaged food giant PepsiCo acquired Pizza Hut in 1977, but spun off the chain along with KFC and Taco Bell in 1997 to create a restaurant company, which took on the name Yum! Brands in 2002.

This story has been with new information.Contributing: Reuters

Mike Snider is a national trending news reporter for USA TODAY. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @mikegsnider.bsky.social & @mikesnider & [email protected]

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This article originally appeared on USA TODAY: Pizza Hut sale being explored by parent company Yum! Brands

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