LongRange Capital has completed its acquisition of Pizza Hut outside Mainland China from Yum! Brands, creating a standalone business backed by the private equity firm’s long-term capital and operating resources.
Pizza Hut generates approximately $10 billion in system-wide sales globally.
Founded in 1958, the restaurant chain has spent nearly seven decades building one of the world’s best-known pizza brands, with products including Original Pan and Original Stuffed Crust pizzas.
As an independent business, Pizza Hut plans to focus its resources on guests, franchisees and restaurant teams while investing in the brand’s next stage of development.
LongRange said it intends to support investments in operations and digital capabilities while strengthening Pizza Hut’s global franchise network.
Digital is already a significant component of Pizza Hut’s business, with more than half of worldwide transactions coming through digital orders.
The brand also operates Hut Rewards in the U.S. and continues to invest in technology designed to make ordering and engagement easier for customers.
LongRange invests through a flexible pool of committed capital backed by long-term institutional investors and focuses on building businesses across consumer goods and services, data and technology, and value-added industrial sectors.
KEY QUOTES:
“As a standalone business, we are now fully focused on Pizza Hut’s guests, our franchisees, and the teams who bring the brand to life every day. With LongRange’s support and resources, we are well-positioned to invest in the brand and build on Pizza Hut’s legacy as we enter this next chapter.”
Eduardo Luz, Interim Chief Executive Officer of Pizza Hut
“We are excited to complete this transaction and to partner with Eduardo and the Pizza Hut team. Pizza Hut has a storied legacy and global footprint that represents a significant opportunity. We are committed to supporting our franchisees and making the right investments to help Pizza Hut deliver consistently great food and experiences for guests around the world, while executing the operational and digital initiatives that will drive sustainable growth.”
Bob Berlin, Founder and Managing Partner of LongRange Capital
