Pizza Hut, once the crown jewel of junk food for at least two generations of Americans, is being sold off by parent company Yum Brands in a $2.7 billion deal, according to the Associated Press. Pizza Hut’s global operations will now be controlled by private equity firm LongRange Capital, with its Chinese operations being acquired separately by Yum China.

It might be difficult to imagine for anyone about 35 and below, but Pizza Hut was once America’s go-to pizza joint. It was interwoven within our lives, the default pizza option for anyone who didn’t live in a place like New York City, where objectively better, less corporate pizza options were bountiful.

For me, Pizza Hut was our family’s Friday meal. My mom would order from the same location near our home so regularly, so punctually, that the person picking up the phone would greet my mom by name before she got the chance to say anything, occasionally letting her know that her weekly Friday order of a large pepperoni pizza was already in the works. I still own novelty Ninja Turtle cups and X-Men animated series VHS tapes that I got from various Pizza Hut promotions. It was the spot for pizza in America.

A spokesperson for the private equity firm claims they plan to build on this brand loyalty.

“Pizza Hut is a beloved global brand with a rich heritage and a loyal customer base that few brands can match,” said Bob Berlin, Founder and Managing Partner of LongRange. “We look forward to partnering with Yum! to ensure a smooth transition for the business and working with Pizza Hut’s talented team and franchise partners to drive its next phase of growth through investments that deliver consistently great food and experiences for customers around the world.”

In a previous release, Yum! Brands said the final sale of the iconic chain will occur in the third quarter of 2026 and that “Pizza Hut will be well positioned for future growth with ownership that brings deep expertise in the restaurant industry.”

“Pizza Hut was built by the passion and dedication of our team members, employees and franchisees, and we’re excited for the next chapter,” the company said.