Yum China announced a $1.2 billion deal to take over the Pizza Hut business in mainland China, moving from an exclusive licensee to the brand owner, according to Inside Retail Asia.
The acquisition underscores Yum China's long-term commitment to the Pizza Hut brand and its growth strategy in the region, allowing the company to fully control operations and brand positioning.
Financial details and expected closing timeline were not disclosed, but the transaction is subject to regulatory approvals.