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NPC International acquires 99 Pizza Huts
September 30, 2008
OVERLAND PARK, Kan. -- NPC International Inc., the world's largest Pizza Hut franchisee, has completed the acquisition of 99 Pizza Hut units from Colonial Foods LLC for $35 million.
According to information provided to NPC, the 50 dine-in restaurants, three Pizza Hut/Yum! Brand multi-brand units and 46 delivery/carryout units generated $81.8 million in net product sales during the 52 weeks ended December 2007. Ninety-six of these stores are located throughout Virginia, two in Maryland and one in West Virginia.
The transaction was funded by approximately $5 million of available cash reserves and borrowings on the company's $75 million revolving credit facility.
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