The oldest pizza restaurant chain in the U.S. is slated to close upwards of 250 locations by the end of this summer to reduce what have been described as “underperforming” stores.
Launched in 1958 in Wichita, Kansas, Pizza Hut is regarded as the most successful pizza restaurant company in the country, with around $1 billion in annual revenue.
Purchased in 1997 by the Louisville-based Yum! Brands, Pizza Hut is not only reducing its store footprint, but it may also soon be acquired by the equity firm Long Range Capital.
“Long Range and Yum are discussing a potential deal that could be announced in several weeks,” The Street news site is reporting, before adding a cautionary note: “There is no guarantee that an agreement will be reached.”
Known for its sit-down space, salad bars, and carry-out service, Pizza Hut became an early industry phenomenon expanding from the single 500-square foot operation in 1958 to twenty four locations just five years later on the way to 300 by the end of the 1960s.
During the 1970s it boomed to 4,000 restaurants, reaching a peak of 7,000 domestic stores as of 2024. While the company has enjoyed its greatest growth in the Midwest and South, it has also become a steady presence in the West: according to recent industry figures, it has more than 130 locations in Arizona, just over 50 in New Mexico, and some 113 in Colorado.
Characterized by its distinctive pavilion or mansard-style red roof, Pizza Hut locations are almost always free-standing and measure anywhere from 1,100 square feet to just under 3,000 square feet.
Reports of the possible acquisition of Pizza Hut comes as the company is still regarded, according to a recent YouGov survey, as the “top pizza brand” in the country.
June 1, 2026
By Garry Boulard
1960s Pizza Hut logo
