Stamford-Based Equity Firm Completes $1.5 Billion Acquisition Of Major Pizza Restaurant Chain

STAMFORD, CT — Stamford-based private equity firm LongRange Capital announced on Tuesday it has completed its $1.5 billion acquisition of Pizza Hut from Yum! Brands Inc.

The transaction was first announced in June and excludes Pizza Hut's business in Mainland China, which Kentucky-based Yum! Brands sold last month.

"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," said Interim CEO of Pizza Hut Eduardo Luz in a news release. "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."

LongRange Capital is headquartered at 1 Station Place in Stamford. Aside from Pizza Hut, the private equity firm's current portfolio includes 24 Hour Fitness, Alpin Unlimited, Batesville and US Synthetic.

"We are excited to complete this transaction and to partner with Eduardo and the Pizza Hut team," said LongRange Capital founder and managing partner Bob Berlin.

"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."

Pizza Hut was founded in 1958 in Wichita, Kan., by brothers Dan and Frank Carney after they were given a $600 loan from their mother.

The brand is known as a leader in the global pizza category and has earned a reputation as an innovator with its Original Pan and Original Stuffed Crust pizzas.

There are over 15,000 restaurants in 108 countries and approximately $10 billion in annual system-wide sales, an announcement on the LongRange sale noted in June.

Earlier this year, Pizza Hut announced it was closing what it called "underperforming locations" across the country in the first half of 2026.

According to the Pizza Hut website, there are Connecticut locations in Ansonia, Berlin, Branford, Dayville, Manchester (two locations), Milford (two), North Haven (two), Plainville, Trumbull and West Hartford.