NPC said Thursday that will buy 55 Pizza Huts, mostly delivery and carry-out locations, from Dallas-based Pizza Hut Inc. for $18.5 million. The restaurants are in the Denver area, the Overland Park, Kan. company said.
In exchange, Pizza Hut will buy 42 restaurants — most of them larger, dine-in outlets — from NPC for $19 million. Those restaurants are in Evansville, Ind., and Shreveport. The move, which is expected to be completed in January, allows NPC to expand west. It also gives Pizza Hut, the nation’s largest pizza chain, “more cost-effective markets for their test market activities,” Jim Schwartz, NPC’s chairman and chief executive, said in a news release.