Pizza Hut franchisee closes sale of parent company

Dec. 28, 2011

NPC International Inc., the largest Pizza Hut franchisee in the country, has announced the closing of the acquisition by NPC International Holdings Inc., a Delaware corporation, of all the outstanding membership interests of NPC Acquisition Holdings LLC.  NPC Acquisition Holdings owns all of the outstanding capital stock of the company.

The company also announced the expiration and results of a cash tender offer and consent solicitation for its 9.5 percent senior subordinated notes due in 2014.

The tender offer expired Dec. 28 and was made in connection with the previously announced proposed acquisition by NPC International Holdings Inc.

Prior to the expiration, $170.4 million aggregate principal amount of notes had been validly tendered and not withdrawn pursuant to the tender offer. The company will pay for all of the notes tendered at or prior to the expiration time.

Overland Park, Kan.-based NPC International operates more than 1,150 Pizza Hut units in 28 states.

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Topics: Financing and capital improvements , Franchising & Growth , Operations Management , Pizza Hut

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