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Article: NPC International, Inc. Announces Closing of Acquisition of 191 Units and Sale of 70 Units to Pizza Hut, Inc.
- Article from:
- Business Wire
- Article date:
- December 9, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Net Acquisition Represents a 12% Increase in NPC Operated Pizza Hut Units
OVERLAND PARK, Kan. -- NPC International, Inc. announced today that it has closed the transactions contemplated by two previously announced agreements signed with Pizza Hut, Inc ("PHI"):
(i) an Asset Purchase Agreement, as amended ("APA") pursuant to which NPC agreed to purchase from PHI 89 Pizza Hut units for $26.0 million in cash.
(ii) an Asset Purchase and Sale Agreement, as amended ("PSA") pursuant to which PHI agreed to purchase from NPC 70 Pizza Hut units for $18.8 million in cash and NPC agreed to purchase from PHI for cash 102 Pizza Hut units for $26.1 million.
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