PITTSBURG, Kan. -- NPC International Inc., the world's largest Pizza Hut franchisee, will pay $31 million for 99 Pizza Huts in the southeastern United States.
When the transaction is completed in February, NPC will acquire 14 Pizza Huts in and near Pensacola, Fla.; 16 near Panama City, Fla; 26 in the Mobile, Ala., area; 22 near Augusta, Ga.; and 21 near Savannah, Ga.
Terms of the deal were announced Monday. The $31 million will be funded through NPC's existing credit line, the company said.
The 60 restaurants and 39 delivery/carryout businesses generated nearly $58 million in sales in the 52 weeks ending in November, 1998.
Not counting the pending acquisition, NPC International operates 643 Pizza Hut restaurants and delivery/carryout units in 24 states. Its Romacorp Inc. subsidiary operates and franchises 185 Tony Roma's restaurants.