NPC International Will Buy 51 Pizza Hut Units In St. Louis For $14.4M

NPC International Inc. has agreed to buy 51 Pizza Hut units in the St. Louis area from Pizza Hut Inc. for $14.4 million in cash.

In a release Wednesday, Kansas City-based NPC said the transaction includes 19 units for which Pizza Hut will continue to own the real estate and will lease to NPC. For those units, NPC will buy from Pizza Hut the employees, equipment and franchise rights.

NPC said that it expects to finance the purchase using its $75 million revolving credit line and that the transaction should close in February.

“This transaction, combined with the prior two transactions conducted with PHI in recent months, is indicative of NPC’s staunch belief in the Pizza Hut brand and our desire to increase our presence in this great brand,” NPC Chairman and CEO Jim Schwartz said in the release.

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