NPC said Thursday that will buy 55 Pizza Huts, mostly delivery and carry-out locations, from Dallas-based Pizza Hut Inc. for $18.5 million. The restaurants are in the Denver area, the Overland Park, Kan. company said.
In exchange, Pizza Hut will buy 42 restaurants â€” most of them larger, dine-in outlets â€” from NPC for $19 million. Those restaurants are in Evansville, Ind., and Shreveport. The move, which is expected to be completed in January, allows NPC to expand west. It also gives Pizza Hut, the nationâ€™s largest pizza chain, â€œmore cost-effective markets for their test market activities,â€ Jim Schwartz, NPCâ€™s chairman and chief executive, said in a news release.