Yum China to acquire Pizza Hut brand in mainland China for $1.2 billion

Yum China entered a definitive agreement to acquire ownership of the Pizza Hut brand in mainland China from Yum! Brands for $1.2 billion cash consideration, eliminating future license fees and providing greater strategic flexibility. The acquisition is transformative for Yum China's long-term growth strategy in China, with plans to expand Pizza Hut to over 6,000 stores by 2028 and double operating profit by 2029.