Form 8-K · Current report
Yum! Brands 8-K, filed Aug 7, 2026
- Filed
- CIK
- 0001041061
- Accession no.
- 0001104659-26-092305
Summary
Yum! Brands completed the sale of its Pizza Hut business in Mainland China to Yum China Holdings for $1.2 billion on August 7, 2026, part of two previously announced agreements to sell Pizza Hut for $2.7 billion in aggregate. Yum! also said its sale of Pizza Hut outside Mainland China to LongRange Capital remains on track to close in August 2026, subject to customary closing conditions including required regulatory approvals, and it entered an amended master license agreement with a Yum China subsidiary covering KFC and Taco Bell in the PRC.
Key points
- Yum China had previously been the exclusive licensee of the Pizza Hut China rights.
- The amended and restated master license agreement removes all references to Pizza Hut and future Pizza Hut royalties in the PRC, gives Yum China's YCCL the opportunity to earn incentives tied to KFC system sales growth targets over the next 12 years, and sets terms for long-term Taco Bell growth plans in the PRC.
- Yum China guaranteed YCCL's obligations under the amended master license agreement, including payment obligations.
- Yum! Brands franchises or operates more than 58,000 restaurants in 155 countries and territories under KFC, Taco Bell, Pizza Hut and Habit Burger & Grill.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 2.01Completion of Acquisition or Disposition of Assets
- 7.01Regulation FD Disclosure
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01 Entry into a Material Definitive Agreement. A&R MLA On August 7, 2026, in connection with the completion of the China Transaction (as defined in Item 2.01 below), YRI China Franchising, LLC (“YRICF”), a subsidiary of Yum! Brands, Inc. (the “Company”), entered into that certain Amended and Restated Master License Agreement (the “A&R MLA”) with Yum Restaurants Consulting (Shanghai) Company Limited (“YCCL”), a subsidiary of Yum China Holdings, Inc. (“Yum China”). …
An excerpt of the text as filed with the SEC, cut for length.
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