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NPC to acquire 99 Pizza Huts
August 7, 2008
OVERLAND PARK, Kan. -- NPC International Inc., the largest Pizza Hut franchisee, plans to buy 99 Pizza Hut units from Colonial Foods LLC for $35 million. The acquisition will be funded with available cash and borrowings on the company's $75 million revolving credit facility.
The stores are comprised of 46 delivery/carry-out units, 50 dine-in restaurants and three Pizza Hut/Yum! Brands multi-brand locations. Ninety-six of the locations are in Virginia, two are in Maryland and one is in West Virginia. NPC expects the acquisition to close in September 2008.
NPC International operates 887 Pizza Hut restaurants and delivery/carryout units in 24 states.
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