NPC International Inc. said Tuesday it closed on a deal to buy 49 Pizza Hut restaurants in and around St. Louis from Pizza Hut Inc. for $14.2 million in cash.
The units sold by Pizza Hut include 19 fee-owned locations, which will be leased by NPC from PHI. The acquisition was funded from borrowings NPC’s $75 million revolving credit facility.
Overland, Park, Kan.-based NPC International Inc., the world’s largest Pizza Hut franchisee, operates 1,098 Pizza Hut restaurants and delivery/carry-out units, or 18 percent of the domestic Pizza Hut system.
Dallas-based Pizza Hut Inc. is a subsidiary of Yum Brands Inc. Yum is based in Louisville, Ky.
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NPC Finishes Pizza Hut Acquisitions
February 17, 2009 by Mark | 0 Comments
In Basic Guidelines, Law & Agreements, Franchises, News, Restaurants
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