ADF Companies acquires 165 Pizza Huts

ANN ARBOR, Mich. — The ADF Companies announced the acquisition of 165 Pizza Hut restaurants in a series of transactions totaling $115 million.

 

According to a news release, the acquisitions occurred from February to November, in connection with the recapitalization and refinancing of the ADF's capital structure. With these acquisitions, ADF becomes the second-largest Pizza Hut franchisee in the United States, operating restaurants in New York, New Jersey, Connecticut, Georgia, Tennessee, Florida, Alabama, Pennsylvania, Maryland, Virginia, West Virginia and Washington D.C.

 

"The acquisition of these additional Pizza Hut restaurants, in combination with the recapitalization and refinancing, solidly positions us for growth in both the Pizza Hut system as well as the entire Yum! Brands family," said Don Harty, president of ADF.