NPC International, Inc. announced today that it has closed the transactions contemplated by two previously announced agreements signed with Pizza Hut, Inc (”PHI”):
(i) an Asset Purchase Agreement, as amended (”APA”) pursuant to which NPC agreed to purchase from PHI 89 Pizza Hut units for $26.0 million in cash.
(ii) an Asset Purchase and Sale Agreement, as amended (”PSA”) pursuant to which PHI agreed to purchase from NPC 70 Pizza Hut units for $18.8 million in cash and NPC agreed to purchase from PHI for cash 102 Pizza Hut units for $26.1 million.
The units sold by PHI include 41 fee-owned locations. NPC acquired one of these properties included in the APA and is leasing 40 of them from PHI. The units sold by NPC include 2 fee owned locations that are being leased to PHI.
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Pizza Hut Franchisee NPC Closes Acquisition Deals
April 3, 2009 by Cris | 0 Comments
In Basic Guidelines, Law & Agreements, Franchisees, Franchises, News, Restaurants
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