Yum China to acquire Pizza Hut IP rights in China from Yum! Brands for $1.2B cash

Yum China Holdings, Inc.

Purchase price $1.2B cash; expected closing Q3 2026; not subject to financing condition.
Acquired entities hold Pizza Hut brand IP and related rights for the PRC.
Existing KFC/Taco Bell master license amended; Yum China may earn incentives based on KFC system sales growth targets over 12 years.
Yum China to fund via cash and debt; no termination fees; specific performance rights included.
Closing not before August 17, 2026; subject to customary conditions including no prohibitive law.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Yum China Holdings, Inc. entered into Membership Interest Purchase Agreement with Yum! Brands, Inc. valued at US$1.2 billion (effective 2026-06-16).

Action: entry
Agreement: asset purchase
Counterparty: Yum! Brands, Inc.
Value: US$1.2 billion
Effective: 2026-06-16

Exact text from the filing

On June 16, 2026, Yum China Holdings, Inc., a Delaware corporation (the “Company” or “Yum China”), entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Yum! Brands, Inc., a North Carolina corporation (“Yum! Brands”).

View on SEC.gov

801 material agreements filed in the last 30 days. Browse all material agreements →

Yum China Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-272893

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.