Spice Route Legal is pleased to have advised Yum! Brands, Inc. on the India aspects of the global strategic sale of Pizza Hut, one of the group’s flagship brands, to private equity firm LongRange Capital.

The transaction forms part of Yum! Brands’ broader global portfolio strategy and represents a significant step in the evolution of the Pizza Hut business. The transaction, reportedly valued at approximately USD 2.7 billion, involved the separation and transition of Pizza Hut’s international business to LongRange Capital.

The mandate involved navigating a complex cross-border carve-out while ensuring continuity of the India business and its underlying commercial and franchise arrangements. Thereafter, it involved the sale of the carved out business to Long Range Capital – an American Private Equity Fund. We advised on both the carve out and the resultant sale of business unit. Our work ranged from drafting and navigating a business transfer agreement, actual transfer of the assets (including the intellectual property), filing of necessary corporate documents and advising the client on regulatory and competition law concerns.  

The deal team was led by Partner Mathew Chacko, and included Senior Associate Harsh Kumra, and Associates Deval Garg and Arpit Singh. Our team worked closely with multiple international law firms including Weil, Gotshal and Manges (International Deal Counsel for the sellers) and Baker Mckenzie (global IP counsel for the sellers).

This was the second deal that we helped Yum! Brands close in 2026.