NPC International Inc., the largest Pizza Hut franchisee, has agreed to buy 36 restaurants from Pizza Hut Inc. for $18.8 million, plus the cost of store inventories, prepaids and store cash.
The Overland Park-based company will add the restaurants to its menu of more than 1,100 Pizza Hut locations. All of the new restaurants are in or near Jacksonville, Fla., and include 27 delivery or carry-out stores and nine dine-in restaurants. Thirty of the stores generated $27.8 million in net sales in 2011. The remaining six were not under Pizza Hut Inc. management for the full year.