Yum Brands, the parent company of KFC, Taco Bell, and Pizza Hut, is reportedly considering selling the struggling pizza chain as part of a formal strategic review to unlock shareholder value. The move comes as Pizza Hut continues to underperform against Yum’s stronger-performing brands.
Pizza Hut, which operates nearly 20,000 outlets across 100+ countries, has seen a steady decline in its U.S. business — a key market that contributes close to half of its total sales. For the first nine months of the year, U.S. sales dropped 7 %, while international markets posted a modest 2 % growth. The chain’s U.S. market share has slipped from 19.4 % in 2019 to 15.5 %.
In contrast, Yum’s overall third-quarter revenue rose 8 %, driven primarily by robust performances from KFC and Taco Bell. The divergence has prompted Yum’s leadership to re-evaluate Pizza Hut’s position within the group’s portfolio.
“The Pizza Hut team has been working hard … 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’s CEO, Chris Turner.
Analysts suggest that a sale or spin-off could allow Yum to sharpen its focus on high-growth segments while giving Pizza Hut a chance to reinvent itself under a new owner. However, the company has not specified a timeline for the review and declined to comment further.
For India and other Asian markets, where Pizza Hut remains a prominent player in the quick-service restaurant (QSR) landscape, the potential sale raises questions about long-term investment, franchising structure, and operational direction. Local franchisees and partners may gain leverage in negotiations or even attract interest from private equity or regional QSR operators seeking to strengthen their portfolios.
If completed, the sale would mark one of the most significant shake-ups in the global QSR sector, reflecting the mounting pressure on legacy dine-in formats to pivot toward delivery-led, digital-first models to stay competitive.
