Yum China completes US$1.2 billion acquisition of Pizza Hut brand in mainland China
YUMC•Opening plans and financing
Net new Pizza Hut openings are targeted to rise to more than 800 a year in 2027 and 2028, from an earlier plan of over 600.
Funding included an offshore RMB-denominated bridge loan equivalent to about USD 1.2 billion, up to 12 months, at around 2% interest.
Yum China completes Pizza Hut brand acquisition
Yum China completed the acquisition of the Pizza Hut brand in mainland China from Yum! Brands for USD 1.2 billion.
The deal, first disclosed on June 16, 2026, eliminates a 3% license fee, lifting Pizza Hut restaurant and OP margins by 2.8% net of VAT.
Management expects Pizza Hut restaurant margins to move closer to KFC’s, improving new-store economics toward a 2-3 year payback target.
